The last thing Brexit Britain needs is Labour’s old-fashioned socialism – Spectator.co.uk (blog)
Big hikes in corporation tax. A sweeping programme of nationalisation. Large increases in the minimum wages, a 20-1 cap on executive pay, and, just in case it gets lost in that blizzard of promises, hefty tax increases on anyone earning more than 80,000 a year.Even in a normal year, the leaked Labour party manifesto has more than enough in it to make anyone in business or industry feel just slightly nervous.
But hold on.This is hardly a normal time for the British economy. We know Jeremy Corbyn and John McDonnell would like to pretend it simply wasnt happening, but 2017-22 will also see the most crucial, and in many ways scary, challenge the UK has faced since the first full bracing blast of Thatcherism in the early 1980s. We will be leaving the European Union, our main trading partner. And we will need to work out a slightly different economic model.
So try this thought experiment. You are sitting in your office in Taipei or Delaware contemplating your investments in the UK. You are already a bit worried about Britainleaving the EU and the Single Market, and all this talk of tariffs barriers and more forms to fill in. Then, on top of that, you are suddenly confronted with a government intent on raising your taxes, limiting the pay of your senior staff, increasing your wage costs, strengthening trade unions and confiscating your property.If you were already uminng and ahhing about whether to stay invested in Britain after 2019, that will surely tip you over the over the edge, and persuade you to get out.
True, it may not be the case that the UK goes for the full Singapore after we leave the EU, as much as some of the more swivel-eyed Brexiteers might like that. We wont necessarily become a drizzlier offshore island full of swaggering billionaires. But we will have to work out what our competitive advantage will be, and frame a convincing pitch about why global companies should base themselves in London or Manchester rather than Lyon or Madrid.
Some of that may have to do with language, the rule of law, skills, and infrastructure. Some of it will have to do with encouraging more domestic innovation, promoting entrepreneurs, turbo-charging manufacturing, and making sure that technology invented in the UK is also developed and exploited here. But lets be realistic. A big part of the pitch will be about competitiveness. We will be the low-tax, light-regulation destination in Europe.If you are fine with high taxes, lots of rules, and strong unions, you can choose France or German or Belgium and get full access to the Single Market into the bargain. If you prefer to be left alone to run your business the way you and your customers like it, then the UK will be the destination of choice.
Of course, some people on the left may not approve of that, and that is fair enough.They dont like free markets, and favour more state intervention and more regulation. But they surely need to come up with a credible alternative for how we can prosper after Brexit. Instead, Labour is doubling down on old-fashioned socialism at precisely the moment when we need to be making ourselves more competitive, not less.In any normal time, its plans would almost certainly destroy wealth. But for the coming five years, they are even crazier than normal.
Visit link:
The last thing Brexit Britain needs is Labour's old-fashioned socialism - Spectator.co.uk (blog)
- AIs growth will pave the way for socialism - The Times of India - January 30th, 2025 [January 30th, 2025]
- Boomers, its time to hand over your dosh and kill millennial socialism - The Telegraph - January 30th, 2025 [January 30th, 2025]
- System change not climate change Socialism and the fight to save our environment - Socialist Worker - January 9th, 2025 [January 9th, 2025]
- A Deputy claims that young Cubans want to stay in Cuba to "build socialism." - CiberCuba - December 25th, 2024 [December 25th, 2024]
- Milei becomes a symbol of the global far right: We must put an end to the garbage of socialism once and for all - EL PAS USA - December 8th, 2024 [December 8th, 2024]
- John Bellamy Foster: The Dialectics of Ecology: Socialism and Nature Book Review - MR Online - December 8th, 2024 [December 8th, 2024]
- Socialism holds its ground and grows stronger with Chinas contribution - Workers World - December 8th, 2024 [December 8th, 2024]
- LETTER: Provincial, federal governments have 'drifted toward socialism' - BurlingtonToday.com - December 8th, 2024 [December 8th, 2024]
- Yall called it socialism: The internet calls out Republicans hypocrisy over American healthcare - The Mary Sue - December 8th, 2024 [December 8th, 2024]
- Andrew Wilkes Is Convinced That the Gospel and Socialism Go Together - Sojourners - November 28th, 2024 [November 28th, 2024]
- Socialism Today editorial: Trumpism and its limits - Socialist Party - November 28th, 2024 [November 28th, 2024]
- Editorial: Neither free trade nor protection but socialism - Morning Star Online - November 28th, 2024 [November 28th, 2024]
- Socialism, Coach Doherty & More On The Brett Winterble Show - WBT - November 28th, 2024 [November 28th, 2024]
- Inclusion of socialism, secularism into Preamble didnt reflect the will of the people - India Legal - November 21st, 2024 [November 21st, 2024]
- The Fight for Palestine and the Fight for Socialism is The Same - CounterPunch - November 17th, 2024 [November 17th, 2024]
- Students for Socialism hold press conference near the Arch - Red and Black - November 16th, 2024 [November 16th, 2024]
- No Evidence Obama Suggested Gradually Bringing Socialism to US 'Without the People Realizing' - Snopes.com - November 16th, 2024 [November 16th, 2024]
- Sounding the Alarm: Socialism Against War: Foreword to the German edition - WSWS - November 16th, 2024 [November 16th, 2024]
- Hotbed of socialism in Kipnuk? The village voters who went wild for Cornel West - Must Read Alaska - November 16th, 2024 [November 16th, 2024]
- Book presentation in Nuremberg: Leon Trotsky and the Struggle for Socialism in the 21st Century by David North attracts great interest - WSWS - November 8th, 2024 [November 8th, 2024]
- Lukashenko: The world is increasingly starting to talk about socialism - BYU News - November 8th, 2024 [November 8th, 2024]
- Senator Rick Scott after electoral victory: "There is no place for socialism in the United States." - CiberCuba - November 8th, 2024 [November 8th, 2024]
- Election Day, Rebuttal of Socialism and More on The Brett Winterble Show - WBT - November 5th, 2024 [November 5th, 2024]
- Americans dont understand the Difference between Socialism and Communism How Confusion about Socialism shapes U.S. Elections - Sarajevo Times - November 5th, 2024 [November 5th, 2024]
- Nehru-era legacy of socialism is still an obstacle to progress, but Im an optimist - The Times of India - November 5th, 2024 [November 5th, 2024]
- Socialism has never worked, wouldnt work for Harris admin - Washington Times - October 26th, 2024 [October 26th, 2024]
- Socialism and the fight against war and genocide - WSWS - October 12th, 2024 [October 12th, 2024]
- No one expected socialism, but unless wealth is challenged, whats the point of Labour? - The Guardian - September 24th, 2024 [September 24th, 2024]
- See all the bike paths around the Tri-Cities? Thats socialism coming for us all | Opinion - Tri-City Herald - September 24th, 2024 [September 24th, 2024]
- Socialism means never having to say youre sorry - The Telegraph - September 21st, 2024 [September 21st, 2024]
- Interview | Wrong to Say Kulgam is a Fight Between Islamism and Socialism: CPI(M) Candidate Tarigami - The Wire - September 21st, 2024 [September 21st, 2024]
- LUCIAN DAVIDS: The ANC must be clear socialism or neoliberalism? - EWN - September 19th, 2024 [September 19th, 2024]
- Sitaram Yechury: A champion of socialism and coalition-building - The Tribune India - September 16th, 2024 [September 16th, 2024]
- 10 years on Scottish independence, the British state and the struggle for socialism - Socialist Worker - September 16th, 2024 [September 16th, 2024]
- LETTER: Starmer is a real dud. We face a cost of socialism crisis - Basingstoke Gazette - September 16th, 2024 [September 16th, 2024]
- Party for Socialism and Liberation, Green Party discuss priorities for 2024 election - WABE 90.1 FM - September 3rd, 2024 [September 3rd, 2024]
- Celebrating 75 years of Chinese Socialism - Workers World - September 3rd, 2024 [September 3rd, 2024]
- The SEP intervention in the UAW election and the fight for socialism among autoworkers - WSWS - September 3rd, 2024 [September 3rd, 2024]
- Will the 2024 election be a referendum on socialism? - The Christian Post - September 3rd, 2024 [September 3rd, 2024]
- The Unsung History of Heartland Socialism - In These Times - August 31st, 2024 [August 31st, 2024]
- LETTER: There's a big difference between neighboring and socialism - Midland Daily News - August 31st, 2024 [August 31st, 2024]
- Kamalas Plan to Address Root Cause of Migration: Expand Socialism to U.S. - California Globe - August 31st, 2024 [August 31st, 2024]
- Op-Ed: The conservatism of Gov. Kim Reynolds vs the socialism of Gov. Tim Walz - The Center Square - August 31st, 2024 [August 31st, 2024]
- How China moved from a command to a free market economy and is now restoring socialism - Pearls and Irritations - August 31st, 2024 [August 31st, 2024]
- Cattle futures dont like the prospect of socialism - Beef Magazine - August 20th, 2024 [August 20th, 2024]
- Trump: Democrats Are Party of Socialism - Newsmax - August 20th, 2024 [August 20th, 2024]
- The Crown Jewel of American Socialism - The Future of Freedom Foundation - August 18th, 2024 [August 18th, 2024]
- Kamala Harris's Economic Plan: The Road to Socialism - MacIverInstitute - August 18th, 2024 [August 18th, 2024]
- Democrats are pushing for a radical redistribution of socialism: Rep. Andy Barr - Fox Business - August 16th, 2024 [August 16th, 2024]
- Economic Growth Myth & Why Socialism Is Rising - Real Investment Advice - August 16th, 2024 [August 16th, 2024]
- Adopting free market socialism, a just thing to do - The African - August 16th, 2024 [August 16th, 2024]
- Maybe a little socialism isnt all that bad. We may get legislation that benefits everyone! - Daily Kos - August 16th, 2024 [August 16th, 2024]
- Florida Democrats try to flip the script on socialism attacks with Venezuela - POLITICO - August 14th, 2024 [August 14th, 2024]
- Salazar Mocks Walz's 'Socialism' Comment, Says Latinos 'Cringe' at the Word - The Floridian - August 14th, 2024 [August 14th, 2024]
- Milwaukee, the city hosting the Republican National Convention, has roots in socialism - Madison.com - July 15th, 2024 [July 15th, 2024]
- Why I joined the Socialist Party - Socialist Party - July 15th, 2024 [July 15th, 2024]
- Milwaukee, the city hosting the Republican National Convention, has roots in socialism - Lake Geneva Regional News - July 15th, 2024 [July 15th, 2024]
- Tubeworker/Off The Rails online meeting, 1 August, 3pm: Fighting the far right, fighting for socialism: a discussion with French transport worker... - July 15th, 2024 [July 15th, 2024]
- Party and Class the politics of revolutionary socialism - Socialist Worker - July 15th, 2024 [July 15th, 2024]
- Build the socialist opposition to Starmer's right-wing government! - WSWS - July 6th, 2024 [July 6th, 2024]
- Democratic Socialism Simulator is a reminder of the DNCs weaknesses - Polygon - July 6th, 2024 [July 6th, 2024]
- Sri Lankan workers and youth support public meeting to demand release of Ukrainian socialist Bogdan Syrotiuk - WSWS - July 6th, 2024 [July 6th, 2024]
- France's Problem Is Not The 'Far Right': It Is Socialism, A Warning For All OpEd - Eurasia Review - July 6th, 2024 [July 6th, 2024]
- Socialist America, state capitalist China - Pearls and Irritations - July 6th, 2024 [July 6th, 2024]
- Socialism And Communism Are Weasel Words For Slavery - The Federalist - July 6th, 2024 [July 6th, 2024]
- UK Socialist Equality Party election rally advances socialist and internationalist opposition to war - WSWS - July 6th, 2024 [July 6th, 2024]
- Cuban Leader Daz-Canel Reminds Business Owners: "We're All Here to Save the Revolution and Socialism" - Cuba Headlines - July 6th, 2024 [July 6th, 2024]
- Tories smashed - build the socialist opposition - Socialist Party - July 6th, 2024 [July 6th, 2024]
- Is Keir Starmer a socialist? - The Conversation Indonesia - June 20th, 2024 [June 20th, 2024]
- Assassinations, socialism and conspirators dens: Inside Berlins Rote Insel - The Berliner - June 20th, 2024 [June 20th, 2024]
- Socialist Equality Party candidate Tom Scripps speaks at London hustings - WSWS - June 20th, 2024 [June 20th, 2024]
- UK risks generation of socialism if you vote Reform, Tories say as they warn Labour will change rules to... - The US Sun - June 20th, 2024 [June 20th, 2024]
- Its OK to be angry about socialism | Johnny Leavesley - The Critic - June 18th, 2024 [June 18th, 2024]
- U.K.'s Keir Starmer tones down the socialism in 'changed Labour Party' - The Washington Post - June 18th, 2024 [June 18th, 2024]
- Socialist Equality Party election campaign wins support in Holborn and St Pancras, London - WSWS - June 18th, 2024 [June 18th, 2024]
- Black voters at odds with Jamaal Bowman could help sink him - New York Post - June 18th, 2024 [June 18th, 2024]
- After Macron's snap election call, which way forward against neofascism and war? - WSWS - June 18th, 2024 [June 18th, 2024]
- No to Gaza genocide and NATO war against Russia! Fight for a socialist alternative to Starmer's Labour Party! Build a ... - WSWS - June 18th, 2024 [June 18th, 2024]
- Statements from Japan and Australia demand freedom for Bogdan Syrotiuk - WSWS - June 18th, 2024 [June 18th, 2024]
- Why Kautsky Was Wrong (and Why You Should Care) - Left Voice - May 31st, 2024 [May 31st, 2024]