Theresa May is threatening to turn the UK into an offshore "bargain basement" economy, Labour leader Jeremy Corbyn has warned as he demanded more details on the Prime Minister's Brexit strategy.

Mr Corbyn expressed concern at the tone of Mrs May's keynote address on how she plans to handle looming "divorce" negotiations with Brussels.

The Labour leader said: "Throughout the speech there seemed to be an implied threat that somewhere along the line, if all her optimism of a deal with the European Union didn't work, we would move into a low-tax, corporate taxation, bargain basement economy on the offshores of Europe.

Read more: Theresa May warns EU members 'no deal for Britain is better than a bad deal for Britain'

"I think she needs to be a bit clearer about what the long-term objectives are."

Liberal Democrat leader Tim Farron accused Mrs May of a "theft of democracy".

"Theresa May has confirmed Britain is heading for a hard Brexit. She claimed people voted to leave the single market. They didn't. She has made the choice to do massive damage to the British economy.

"Theresa May also made clear that she will deny the people a vote on the final deal. So instead of a democratic decision by the people in the country, she wants a stitch-up by politicians in Westminster.

"The people voted for departure, they should be given a vote on the destination. This is a theft of democracy.

"This speech was a mixture of vague fantasies and toothless threats to our nearest neighbours. At the moment Britain needs friends more than ever, she has succeeded in uniting the rest of Europe against her.

"When it comes to British prosperity and British democracy, she is waiving the white flag from the White Cliffs of Dover."

Unite general secretary Len McCluskey said the PM was trying to "appease the hard right" in her party and Ukip by talking tough on immigration, as he warned the Government stance puts jobs at risk.

"Trade unions and others have clearly outlined how real concerns over the freedom of movement can be addressed by sensible labour market safeguards without abandoning the single market when we leave the EU.

Read more: Theresa May warns EU members 'no deal for Britain is better than a bad deal for Britain'

"Out of the single market, possibly out of the customs union, then investment in core sectors like car manufacturing, chemicals, aerospace, even food manufacturing, will be threatened as companies face hefty on-costs and serious disruption to their supply chains.

"The Prime Minister must pay less heed to the Brexit headbangers around the Cabinet table and more to the anxiety felt by working people who believe their jobs are being held hostage by the extreme nationalist wing of her Government."

TUC general secretary Frances O'Grady said: "Signs that the UK will leave the single market are reducing confidence in the British economy and the falling pound looks likely to keep pushing up prices on everyday goods this year.

"The Prime Minister's plan for Brexit ... must make sure that wages keep rising, as well as protecting jobs and rights, so that working people don't pay the price for the decision to leave the EU."

Adam Marshall, director general of the British Chambers of Commerce, said: "While businesses now have a clearer sense of the Prime Minister's top-line priorities, they will come away from her speech knowing little more about the likely outcome of the Brexit negotiations than they did yesterday.

"The simple fact is that businesses all across the UK are carrying on. Directly affected companies are being pragmatic, and are preparing for a range of possible outcomes."

Read more: Theresa May warns EU members 'no deal for Britain is better than a bad deal for Britain'

Paul Everitt, chief executive of aerospace and defence trade body ADS, said: "The Prime Minister has provided important clarity ahead of the triggering of Article 50 and the start of formal Brexit negotiations.

"Securing the best deal for the UK and our EU partners will take time and it is essential that there are transitional arrangements in place to avoid disrupting closely integrated supply chains and damaging the UK's global competitiveness."

Allie Renison of the Institute of Directors said: "We welcome the level of detail provided in the PM's speech and her commitment to providing certainty wherever possible, which is absolutely vital for business if they are to navigate and make the best of Brexit.

"While we do not expect a running commentary, firms hope to get periodic updates to maintain confidence as we make our way towards the exit.

"We now know that we will be leaving the single market, and while there will be firms who regret this, they will at least be able to plan on that basis."

Greenpeace UK's head of public affairs Rosie Rogers said: "Whatever position people take on Brexit, it's a fact that leaving the single market would undermine vital environmental and consumer protections we now take for granted.

"Many of the laws that keep our bathing water clean and control dangerous air pollution and toxic chemicals come from the EU.

"Without EU laws and courts to underpin and enforce them, they could be left at the mercy of ministers who may ignore them and scrap them with a stroke of the pen."