Former Labour Party leader Jeremy Corbyn has launched a new political party with independent MP Zarah Sultana, aiming to provide a community-driven alternative to existing political options.

Corbyn, who was suspended from the Labour Party in 2020 due to controversies over antisemitism, previously led Labour during the 2019 general election, which resulted in the party's worst performance in decades.

The new party's agenda focuses on wealth redistribution, increased taxation on the wealthy, and public ownership of essential services, emphasizing a 'mass redistribution of wealth and power'.

Key issues the party intends to tackle include child poverty, corporate profiteering amid rising living costs, and government spending priorities that favor military over social welfare.

The party aims to be operational by May 2026, coinciding with local council elections in London and other cities, which are seen as critical battlegrounds.

It seeks to attract voters who feel that Labour has abandoned its core values, targeting support from Labour, Green, and Gaza-focused independent voters.

Corbyn and Sultana's platform is positioned further left than Labour, with a strong emphasis on social justice issues and support for Palestine.

The announcement comes amid criticism of current Labour leader Keir Starmer from the left wing of the party, particularly regarding his handling of welfare policies.

Sultana herself was suspended from Labour for voting against party recommendations and advocating for social welfare reforms, which contributed to her decision to co-found this new party.

Keir Starmer, who succeeded Corbyn, has shifted Labour towards the political center, facing challenges in maintaining unity among party lawmakers amid economic struggles.

Despite Corbyn's strong public recognition, having been known by 98% of voters, there are concerns about the new party's viability given Corbyn's previous electoral defeats.

The new party has begun to garner support, with independent MP Adnan Hussain expressing his backing for Corbyn and Sultana's initiative on social media.