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Jeremy Corbyn is to announce plans to pump £250 billion into industry in a bid to create a million good quality jobs and unleash "the untapped potential of every part of the country".

The Labour leader will use a speech in York on Friday to highlight plans to create a new National Investment Bank and a network of Regional Development Banks and a National Transformation Fund if the party wins the General Election.

The speech marks a further attempt by Mr Corbyn to focus the election debate on domestic policy rather than the themes of leadership and Brexit favoured by the Tories.

But Conservative Chancellor Philip Hammond warned that Labour would destroy jobs by raising taxes and borrowing if the measures are introduced.

The Labour leader will say that years of Conservative rule have resulted in stagnating productivity, falling public sector net investment and average wages forecast to be lower in real terms in 2021/22 than their 2007/08 level.

He will set out plans for an industrial strategy designed to, galvanise businesses around missions that tackle Britain's key challenges, from climate change to automation.

The plans will also aim to introduce cross-cutting policies to create a fertile ground for business to achieve these missions and provide greater support to the sectors in which Britain has a comparative advantage.

Mr Corbyn will say: "When Labour talks about job creation we mean decent jobs, jobs which pay a real living wage, which people can get by on, and which give people a sense of pride and purpose.

"Labour will invest to drive growth across the whole of Britain, creating wealth which is shared across our country, rather than concentrated in the hands of the few."

He will add: "Under the Conservatives, the richest have got richer, while most people's incomes have fallen or stagnated. Labour's plans will make sure everyone shares in our country's wealth."

But Mr Hammond responded, saying: "Jeremy Corbyn will not create jobs, he will destroy them.

"His reckless plans for higher taxes and more borrowing will wreck the economy and we will all pay the price.

"We have made real progress in fixing the mess we inherited from Labour, helping businesses create 2.9 million more jobs so there are a record number of people in work."