Labour Leader Jeremy Corbyn addresses delegates on the final day of the Labour party conference | Leon Neal/Getty Images Jeremy Corbyn sets out plan for post-Brexit socialist revolution The Labour leader said his party would impose rent controls in major cities and increase taxes on businesses and the wealthy if his party wins power.

BRIGHTON, England — U.K. Labour Party Leader Jeremy Corbyn laid out his vision for Britain’s post-Brexit economy, including the imposition of rent controls in major cities and increased taxes on businesses and the wealthy.

Closing the party's four-day conference Wednesday afternoon, Corbyn said a future Labour government would not be satisfied redistributing wealth “within a system that isn’t delivering for most people,” but instead would seek to "transform that system.”

The pledge in effect seeks to upend the post-Thatcher economic consensus in the U.K., which was accepted by the previous Labour government under Tony Blair and Gordon Brown, and to replace it with a far more state-driven model.

The only new policy in Corbyn’s speech not contained in the party's general election manifesto was the introduction of rent controls.

“When the younger generation’s housing costs are three times more than those of their grandparents, that is not sustainable,” Corbyn told delegates to cheers in the main conference hall.

“Rent controls exist in many cities across the world and I want our cities to have those powers too and tenants to have those protections.”

The pledge is part of a package of measures to overhaul Britain’s housing model, with new taxes on developers and powers to “compulsorily purchase” land to build new family homes.

Since 2010: homelessness has doubled, 120,000 children don’t have a home to call their own, home ownership has fallen, thousands are living in homes unfit for human habitation," Corbyn said.

“We will listen to tenants across the country and propose a radical program of action.”

Corbyn said his vision for Britain was now the “political mainstream” because people were finally reacting to the 2008 economic crash, which helped sweep the previous Labour government out of power, ushering in seven years of Conservative government on a promise to reduce government spending to cut the deficit which had ballooned to over 10 percent.

“A new consensus is emerging from the great economic crash and the years of austerity, when people started to find political voice for their hopes for something different and better,” Corbyn said. “2017 may be the year when politics finally caught up with the crash of 2008 — because we offered people a clear choice.”