Labour’s core policy paper written by John Cruddas and John Rutherford – One Nation – emphasises three times in its opening three pages that these are times of financial restraint and difficult financial times. The seek another version of Blair’s Third Way and reject ‘orthodox Marxism’ and ‘neoliberalism’ preferring a rebirth of social democracy as outlined by Polyani.
Their version of the future restricts politics to the notion of parliament, economics to the idea of tax and spend, warning there is little to spend, and fails to address the underlying mechanisms of capitalism.
The bankers and gutter press will welcome this body swerve and encourage a vote for Labour and hope the rocky coalition will fall.
Labour are leaving themselves prey to the populism of UKIP because they have no radical solution for Britain. Neither do UKIP but they appear to be taking up issues of concern for working people while Labour has forgotten them. A mansion tax to fund the NHS is not the answer. reinvestment through nationalised banks of the wealth created in Britain and public ownership of key utilities, transport and so in would be a step in the right direction. removing the power of the establishment and banks through a written constitution would be another.