Leadership contender Owen Smith on bid to lead party

Labour leadership challenger Owen Smith would borrow billions to finance an "enormous building programme" as he spoke of a "British new deal".

The Pontypridd MP said he would re-write Clause 4 of Labour's constitution, and said there should be a second vote on the terms of British exit from the EU, as people "were sold a pup" by the Leave campaign.

He was speaking to Daily Politics presenter Andrew Neil about the differences in policy between himself, Angela Eagle and Jeremy Corbyn as the party gears up for a leadership vote.

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