By Chris Mason, BBC News political correspondent
Having survived, so far, the rumblings of mutiny among fellow Labour MPs, both the party leader Jeremy Corbyn and his shadow chancellor John McDonnell are determined to begin setting out their economic pitch.
Mr Corbyn called it “a new economics”. Mr McDonnell described his aim as being no less than the “fundamental business of reforming capitalism”.
So today was big on vision, but short on new detail. Perhaps no surprise with the next general election, in all likelihood, not until 2020.
No one can doubt their ambition: “I want us to surpass even the Attlee government for radical reform,” the shadow chancellor said, a reference to the administration that founded the NHS.
But to do that, they have to win the next general election.
Will Labour MPs put up with them for long enough so they can fight that election? And if they do, can Messrs Corbyn and McDonnell sell such a left wing, socialist pitch to the electorate?
