Newly elected Labour party leader Jeremy Corbyn has unveiled plans to re-nationalise the railways in the UK, according to The Independent.

The newspaper says that if Mr Corbyn becomes the next prime minister of the country, he plans to renationalise a third of franchises by 2025, with each route to be taken over by the Government as its franchise expires.

Around five out of 16 franchises, including East Coast, Southern and TransPennine Express, are due to expire between 2020 and 2025.

The UK’s International Development Secretary, Justine Greening, told the BBC’s Andrew Marr show that she believed Mr Corbyn’s plans to re-nationalise the railways would be “an ideological joyride”.

Meanwhile, Transport Secretary Patrick McLoughlin was quoted by The Telegraph as saying: “Labour's railway plans are ‘backwards-looking’ and would cost billions of pounds and leave less money to spend on improving services.”

The Labour party has said it will set up a task-force, led by new Shadow Transport Secretary Lilian Greenwood, to plan the implementation of re-nationalisation.