Labour leadership: Owen Smith calls for a "new industrial revolution"

Owen Smith speaks during the first Labour Leadership debate at the All Nations Centre, Cardiff. Credit: PA

Labour leadership candidate Owen Smith has been in the region today.

In a speech in Newcastle he called for a "new industrial revolution", warning that Britain is on the cliff edge of another recession.

He wants a focus on "jobs of the future" in areas such as the car industry and green energy.

The former shadow work and pensions secretary promised an industrial revolution that would revitalise British industry.

He called on the Government to inject £20 billion immediately intoinfrastructure projects across the country, such as rail electrification, renewable energy schemes and new further education colleges, through an early autumn statement.

Mr Smith also renewed his call for a second referendum to approve the terms of Britain's exit from the EU.

Setting out proposals for an industrial strategy that would be backed by £40 billion worth of investment, Mr Smith also pledged a £15 billion injection into the Green Investment Bank over five years.

Mr Smith said: