"We stand with the people on Teesside fighting for their jobs," says Corbyn

In his maiden speech as Labour leader Mr Corbyn attacked the Conservatives for supporting "an economy that works for the few not for the many," adding: "Look at the Tory failure to support our steel industry as the Italian government has done. We stand with the people on Teesside fighting for their jobs, for their industry and their community.

"Whilst the company has said they will mothball the plant and lay the workers off therefore it is not too late now to call on the Prime Minister even at this very late stage, this twelfth hour to step in and defend those people, other governments like the Italian government have done the same why can’t the British government what is wrong with them?"

In a meeting of MPs at the conference a few hours after SSI anniouhynced it was axing 1,700 jobs and mothballing its Redcar works, Mr Corbyn insisted the Government could “quite easily” intervene.  

MPs and unions have urged David Cameron to offer the troubled works, which has struggled to compete against cheap exports from China, the same kind of state support given to banks during the financial crash.

Ministers have rebuffed calls to nationalise steel or inject taxpayers' money into the industry, citing EU state aid rules which restrict the support governments can offer private companies.

Mr Corbyn added: “The Government could have quite easily intervened if it had wanted to.

"Instead it’s not prepared to stand up to the dumping policies of other Governments, particularly the Chinese Government, on steel around the world.

“It’s not prepared to learn the lesson that the Italian Government could have quite easily have taught them - that you can intervene.

 "You can intervene either temporarily or permanently - there’s lots of ways you can do it, if you are serious about defending the economic infrastructure of the manufacturing base of this country.

"They have failed to do so. Shame on them.”