SCOTTISH Labour leadership hopeful Richard Leonard has saluted the “timely” convening of the Morning Star’s Big Capital, Small Nations conference in Glasgow this weekend.

The summit — featuring an opening address by shadow chancellor John McDonnell — will focus on “how politics can be changed to enable small nations, like Scotland, to exercise democratic power in the interests of working people.”

Mr Leonard, a veteran socialist who has won the backing of every trade union to declare a favourite so far, warned that Scotland is rapidly turning into a “branch plant economy” with over a third of its economy owned by overseas investors.