Business chief Terry Scuoler described the Labour leader’s policies as “hardline socialist”. 

Mr Scuoler said: “There are a number of policy initiatives which are likely to be the thin end of a hardline socialist wedge.”

In its election manifesto, the Labour Party set out plans to have greater control of the railways, energy companies, water companies and Royal Mail.

In its manifesto before the June election, the party said: “Labour understands that the creation of wealth is a collective endeavour between workers, entrepreneurs, investors and government.”

Many business leaders are taking the Labour Party more seriously after it gained 30 seats in the election in June and took 40 per cent of the vote. 

Many people in the business world fear that increasing borrowing could have negative consequences by damaging Britain’s credit rating. 

Mr Sculler believes this could be the beginning of a more radical programme of “widespread nationalisation”. 

However, there is some support for certain Labour policies, such as its intention to borrow £250 billion over 10 years to invest in projects. 

Labour’s proposal to increase taxes on businesses has also alarmed certain groups. 

In an interview in Grazia magazine, Mr Corbyn said he will “probably” be in Downing Street next year.

He said: “There will probably be another election in the next 12 months” and he said he “will probably win. I’m ready to be prime minister tomorrow.” 

At the Labour Party Conference in September, Mr Corbyn said a future Labour government would not be satisfied redistributing wealth “within a system that isn’t delivering for most people” but instead would seek to “transform that system”.