Donald Trump's election is a "global wake-up call" showing that Britain must take back control from the billionaires bank-rolling the Tories, according to Labour leader Jeremy Corbyn. 

In a speech in Kent later, the Labour leader looks set to suggest the President-elect tapped into "anger at a political elite" and a failure to deal with "predatory excesses of a globalised free-for-all".

"Donald Trump tapped into real problems: stagnating or falling wages, underfunded public services, insecure work and housing, years of being left behind and neglected, frustration that your children's prospects look bleaker and anger at a political elite that doesn't listen."

Distancing himself from the business mogul's policies, he says: "Instead of offering real solutions or the resources to make them work, he offered only someone to blame - everyone, that is, apart from those who are actually responsible for a broken economy and a failed political system."

Mr Corbyn says Trump's actions and ideals mirror those of the Tories', saying that that party opened the door for UKIP and "fanned the flames of fear".

"Nigel Farage blames immigrants, yet offers not a single proposal to put a penny more into the NHS ... He actually wants to privatise our NHS, a service that now relies on hard-working migrants to keep going.

His comments echo Ed Miliband's 2011 conference speech, in which he controversially referred to businesses as being either "predators" or "producers".