2 former British Labour MPs announce new political party

British lawmakers Jeremy Corbyn and Zarah Sultana on Thursday announced the formation of a new political party, saying "real change is coming."

Corbyn, who is currently independent MP for Islington North, and MP for Coventry South Sultana, who recently left Labour, announced the new party in a joint statement.

"It's time for a new kind of political party. One that belongs to you," it said.

They urged people to sign up at yourparty.uk, but a source close to Corbyn told Sky News that "your party" was being used as a stand-in label to "kickstart the democratic founding process of a party that belongs to the people" with the official name yet to be decided.

"The system is rigged. The system is rigged when 4.5 million children live in poverty in the sixth richest country in the world," said the statement.

Also touching on the situation in Gaza, they said millions of people are horrified by the government's "complicity in crimes against humanity," adding they must defend the right to protest against genocide.

"We believe in the radical idea that all human life has equal value. That is why we will keep demanding an end to all arms sales to Israel, and for the only path to peace: a free and independent Palestine," it noted.

It added: "It's time for a new kind of political party. One that is rooted in our communities, trade unions and social movements. One that builds power in all regions and nations. One that belongs to you."