UK 'should not be afraid of debt or borrowing', says Labour leader Jeremy Corbyn

Labour leader Jeremy Corbyn has said the UK "should not be afraid of debt or borrowing" as he urged the government to "stop dithering" and start investing.

Addressing fellow party members at the Welsh Labour conference in Llandudno on Saturday, Corbyn said the current Tory administration should look to Britain's history of investing even in the face of economic difficulty and start following suit.

He said: "We should not be afraid of debt or borrowing.

"At the end of the Second World War, the Labour government of Clement Attlee didn't say, 'oh dear, debt is 250% of GDP - let's park those grand ideas about public ownership; a National Health Service, building council homes, or creating the protection of social security'.

"No. They built a country to be proud of."

Reacting to reported claims by Prime Minister Theresa May that he wants to "bankrupt Britain" by insisting taking on debt can save money in the long-run if it is used to invest, Corbyn said "as any home owner who has ever had a mortgage knows, taking on huge debt can save you money in the long run."