Labour manifesto to be released later today will outline water re-nationalisation plans

The Labour party plans to re-nationalise the UK water industry if elected after the General Election on 8 June.

The party’s leader Jeremy Corbyn said he will unveil a “radical and responsible” plan for government, pledging to change the country and govern “for the many not the few”.

According to the BBC, Labour would return the water sector to public hands. The industry was sold off under Margaret Thatcher in 1989.

Labour proposes to create nine new public bodies to run the water and sewage system in England.

By ending the practice of paying dividends to shareholders, bills would be reduced by around £100 a year per household, according to sources close to the party.

A Labour source said: “Under Labour, rather than answering to its shareholders out to make a quick buck at the expense of increasing household bills and worsening service quality, utilities will be accountable to the bill payer, helping ease the burden of those struggling with the cost of living crisis.”