LABOUR leadership frontrunner Jeremy Corbyn brushed-off criticism from blast-from-the-past Tony Blair yesterday, before setting out his vision of a “credible and just” economy.

Mr Blair was resurrected by his heirs on Labour’s right amid an ongoing panic over an opinion poll putting Mr Corbyn 17 points clear of closest rival Andy Burnham.

Speaking at a press event staged by the party’s Progress faction, he moaned that Mr Corbyn was the “Tory preference.” 

The divisive ex-PM then claimed a lurch to the left represents the “the theory that the electorate is stupid” — but admitted he would not want Labour to adopt a left platform “even if I thought it was the route to victory.”

Mr Corbyn was mobbed by broadcasters asking about the comments after making his speech in central London. 

But he rose above the sideswipe from the right-wing relic, saying:  “I would have thought he could manage something more serious than those very silly remarks.”

“Surely we should be talking about the situation facing Britain today, the situation facing many of the poorest people in this country today, and maybe think if our policies are relevant.”

Mr Blair’s comments came after an outburst by his former adviser John McTernan on Tuesday night. 

Frustrated at Mr Corbyn’s poll lead, he called his supporters “morons” who should “be ashamed of themselves.”

Leeds East MP Richard Burgon told the BBC that Mr Blair’s comments showed that he was the “blast from the past.”

“This election isn’t about the 1980s,” he said.  “Jeremy Corbyn’s campaign is connecting with a lot of young people because of the forward-looking policies.”

Edmonton MP Kate Osamor insisted that Mr Corbyn’s energetic leadership campaign would not be sidetracked by “haters.”

She told the Star: “We’re focused on the future and what a society that benefits everybody should look like. 

“That’s what Jeremy is doing.”

And Mr Corbyn went on to defy critics yesterday by delivering an address about his economic alternative for the 2020 general election.

It included big spending proposals, such as a £10-an-hour minimum wage and a National Investment Bank tasked with reviving British industry and creating high-skilled jobs. 

But it also came with detailed proposals about how public investment could be paid for. 

Tax reliefs that rob the Treasury of £93 billion every year would be closed and more tax collectors would be hired to hunt down £120bn in uncollected tax. 

Mr Corbyn said Labour face a choice between “whether to accept austerity or whether to break free of this straitjacket and strike out for a modern, rebalanced economy based on growth and high-quality jobs.”

His major speech came as more bookmakers slashed his odds on winning the Labour leadership. 

Paddy Power became the fifth bookies to slash his odds to just 2/1 - having been as high as 200/1 when the race was sparked by Ed Miliband’s resignation in May. 

The bookies make him second favourite behind Mr Burnham. 

But a Times opinion poll yesterday predicted Mr Corbyn would beat Mr Burnham by six points — even after transfers from Yvette Cooper and Liz Kendall.

Blairite candidate Ms Kendall is languishing on just 11 per cent support.