Jeremy Corbyn has criticised Theresa May's key speech on Brexit, warning the Prime Minister wants to “have her cake and eat it”.

He said there was an implied threat from the PM that the UK would adopt a low-tax economic model if EU leaders tried to punish it during the negotiation process.

“Mrs May has said she will leave the single market and, at the same time, has said she wants to have access to it,” he said

“I am not quite sure how that is going to go down in Europe ... She seems to be wanting to have her cake and eat it.”

Mr Corbyn added: “Theresa May has made clear that she is determined to use Brexit to turn Britain into a bargain basement tax haven on the shores of Europe. She makes out this is a negotiating threat to the 27 EU countries but it's actually a threat to the British people's jobs, services and living standards.

“We welcome that the Prime Minister has listened to the case we've been making about the need for full tariff free access to the single market but are deeply concerned about her reckless approach to achieving it.