Could Jeremy Corbyn’s new party shake up politics?

Former Labour leader Jeremy Corbyn has confirmed he is launching a new political party, promising to “build a democratic movement that can take on the rich and powerful”.

It doesn’t have a name yet but the MP for Islington North says the plan is for the group to fight May’s local elections ahead of the next general election, which is likely to take place in four years’ time.

The new venture has the potential to shake-up the political landscape, with Labour and the Greens appearing to be the most at risk of losing votes.

Polling of around 2,000 Britons by More In Common last month – on whether they would vote for a hypothetical Corbyn-led party – suggested it could pick up 10% of the vote.

This would potentially take three points off…