THERESA May has told Tory donors that the Conservatives are on a “renewed mission” to defeat Jeremy Corbyn’s socialist vision, which, if realised, would bankrupt Britain.

Addressing the Tories’ Black and White Ball elite fundraiser in London, where tables are said to have cost £15,000, the Prime Minister sought to reassure doubters about her vision for Britain beyond Brexit, stressing how the country would take back control of its money, laws and borders and would “raise our horizons” beyond the continent of Europe to the wider world.

She was expected to say: “Ever since the British people delivered their vote in the referendum, I have had no doubts about what our new relationship with the EU must mean for the United Kingdom. It will mean taking control of our money; so we are not sending vast annual subscriptions to the EU.

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“It also means control of our borders; so we decide on our own immigration policy. One which attracts the brightest and the best to come to these shores and one which also ensures we are investing in our own talent here at home.

“And it means control of our laws; so British courts are supreme and the European Court of Justice no longer over-rules them.”

But Mrs May told guests at the annual fundraiser in London’s Natural History Museum that her vision of the UK outside the EU was much more ambitious than that.

“Taking back control means leaving the single market and customs union and constructing a completely new trading partnership with the EU; to protect and promote the interests of British businesses trading in Europe and EU businesses trading here.

“We will forge a completely new alliance with our European partners to advance our interests around the world. As permanent members of the Security Council, and with Europe’s biggest defence budget, we will always remain steadfast in protecting Europe’s security.

“And,” she insisted, “we will raise our horizons beyond our near neighbours…across the Pacific and Atlantic oceans to nations far and wide…to broaden and deepen our trade and security relationships across the world.”

This, the PM said, would involve building a modern economy fit for the future, which was innovative, entrepreneurial and dynamic. It would harness the skills, the talents and the indomitable spirit of the British people, which had never been more important to do so.

“Around the world, we see a rise of populism, nationalism and protectionism. We see the great positive forces of free trade, economic liberalism and the rules-based order which sustains them under threat. The world needs a strong and confident Britain, offering leadership and advocating for our values,” declared Mrs May.

“And we see the same underlying truth here at home, too. Jeremy Corbyn and the Labour Party are exploiting populist politics. And what do they offer? Massive renationalisation. Capital flight. A run on the pound. That all leads to a bankrupt Britain.”

She added: “That’s why as Conservatives, we are on a renewed mission to fight and win the battle of ideas and to defeat socialism today as we have defeated it before.”