Jeremy Corbyn has today unveiled plans to “extend democracy in Britain” by overhauling the ways the UK constitution, economy and Labour Party work.

The Labour leader has hit out at the manner in which “decisions in Britain are overwhelmingly taken from the top down” and says he wants the country to work for “the millions, and not just the millionaires”.

As ballots begin to go out in the leadership contest today, Corbyn reveals how he wants to extend devolution through online democracy and opening up local referendums on the outsourcing of public services.

He also says that he wants to abolish the House of Lords and replace it with an elected second chamber, and start “citizens’ assemblies” to help shape political accountability. The plans also include a radical extension of trade union and workers’ rights, including mandatory collective bargaining for companies with 250 or more employees, requiring the election of employee representatives to executive remuneration committees and taking action to ensure women’s equality in the workplace.

But his vision also sees big changes to the way the Labour Party operates, by handing policy-making power to the women’s, BAME and youth conferences for the first time, creating a charter of rights for party members, and moving to “widen representation” on the NEC to reflect the huge increase in party membership.

“I am determined to democratise our country from the ground up, and give people a real say in their communities and workplaces,” Corbyn said. “We need to break open the closed circle of Westminster and Whitehall, and of the boardrooms too.

“Decisions in Britain are overwhelmingly taken from the top down. And that’s crucial to why our country is run in the interests of a privileged few.

“That has to change – so that the country works in the interests of the millions, and not just the millionaires.

“I believe in the wisdom of ordinary citizens. That’s why we are launching proposals to extend democracy in every part of public life: in national politics, communities, the economy and the workplace – and in our own party.

“Labour under my leadership will listen to ideas from the bottom up – and take radical action to transform and rebuild our country so that no one and no community is left behind. We need nothing less than a democratic revolution in our politics, communities and workplaces.”