Jeremy Corbyn and Zarah Sultana’s new party will offer “unapologetically socialist” policies, with the pair to embark on a nationwide tour to listen to ideas, Sky News understands.

The former Labour MPs are aiming to hold the party’s first conference in the autumn to help decide what it stands for and models of leadership.

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Ms Sultana told Sky News its policies will include “democratic public ownership of key industries, universal free childcare, rent controls, free public transport and much more”.

Mr Corbyn, the ex-Labour leader, added there is “huge appetite for the policies that are needed to fix society”, including “wealth redistribution, housing justice, and a foreign policy based on peace and human rights”.

The autumn conference will be for paid members rather than those who have simply signed up to the party’s website.

How to translate signups into membership, and exactly how members will have their say on policies, will be discussed as part of a “founding process” over the next few months.

This will involve local engagement with communities up and down the country, including rallies and meetings fronted by Mr Corbyn and Ms Sultana, as well as “other public figures”, a source close to the party told Sky News.

Election goals

While there are many details to be fleshed out, including the name, the pair’s “primary aim” is to make gains at the local elections next May, it is understood.

Mr Corbyn and Ms Sultana announced their new venture last Thursday, and claim more than half a million people have signed up, but “Your Party” is only an interim name. Members will decide the official one in due course.

Insiders have claimed they are attracting support from a wide geographical area, the strongest bases being in London, the North West, and Yorkshire and the Humber.

It remains to be seen whether those who have expressed an interest will go on to join the party.

However, there is a risk it could eat into Labour’s vote share by attracting those on the left unhappy with the direction of the Starmer government, particularly on issues like Gaza and welfare.

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Mr Corbyn led the Labour Party from 2015 to 2020 before being suspended following a row over a report into antisemitism. He retained his seat in Islington North after standing in last year’s general election as an independent.

Ms Sultana was suspended as a Labour MP last year after rebelling against the government over the two-child benefit cap, and announced she was quitting the party to launch a new one with Mr Corbyn earlier this month.

Polling by More in Common before the new outfit was officially announced suggested it could take 10% of the vote at a general election, mainly from Labour and the Greens.

This has raised the prospect of Mr Corbyn striking a deal with the Greens, where both sides would agree to stand down in seats where the other has a stronger chance of winning

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The Islington North MP has suggested he is open to collaboration with progressive parties, but it is understood that electoral strategy will be informed by conference. It is also not clear if the Greens would agree to any such pact.

Some MPs are worried the split in the left vote could make it easier for Nigel Farage, already ahead in the polls, to enter Downing Street.

Patrick Hurley, the Labour MP for Southport, told Sky News: “The thing I’m worried about with regard to the unnamed but already chaotic Corbyn Party is that they let Reform through the middle by taking votes off a progressive centre left party like Labour.

“They won’t be a threat electorally, but they may well let the radical right wing into power by splitting the vote.”

However, Labour was dismissive of the threat the party posed, with a source saying: “The electorate has twice given its verdict on a Jeremy Corbyn-led party.”