Labour is putting its plans for Britain in the hands of private finance. It could end badly

[Emrys]

8. Nobody, but nobody from Labour has indicated that they have any intention

Last edited Wed Jul 3, 2024, 09:54 AM - Edit history (1)

of relaxing their adherence to Brexit except in the vaguest terms. I don't know why I can't convey that to you. If all you have is ad hominems about an academic you admit you know nothing about, it's not much of a basis for a discussion.

Entering the single market would entail accepting freedom of movement of people as one of the EU's Four Freedoms (of movement of people, goods, services and capital). Given the rhetoric they've come out with about immigration, that's a non-starter.

That also rules out being part of a customs union, and that is one of the aspects that's hitting the country's economy worst. They can "realign" all they like, the goods still have to be traded across frontiers, and that entails costs.

And it's notable how much the question of costs has been glossed over during the election campaign. The most concrete commitment Labour's given while it seeks to change as little as possible from the Tories' pledges on tax and fiscal policy etc. is to crack down on tax avoidance (though not evasion for some reason) among the very rich. That's obviously worth doing for its own sake and long overdue, but it's a drop in the ocean compared to the depth of the problem.

IFS warns of Labour and Tory ‘conspiracy of silence’ over future tax and spending plans

Toughest outlook for public finances for 80 years means next government must find tens of billions in cuts or tax rises, says leading thinktank

https://www.theguardian.com/business/2024/mar/07/ifs-warns-of-labour-and-tory-conspiracy-of-silence-over-future-tax-and-spending-plans

Estimates of the black hole being faced as a result of the manifesto's fiscal policies range from £12 billion to £18 billion.

they don't have much leeway to do anything else, apart from making massive cuts, as he's ruled out tax rises

Yes, that's the nub of all the materials I've cited in and under this OP. Only the SNP has raised both the effects of Brexit and the shortfall in financial projections during the leadership debates. Both the current major parties of government would rather not talk about them.

Another thing Labour in particular doesn't want to talk about is this:

‘When power shifts, so does the money’: mega-donors fill Labour’s coffers

https://www.theguardian.com/politics/article/2024/jul/02/how-labour-has-wooed-big-donors

Although Labour's been less aggressive and somewhat more careful about the larger donations it accepts, Labour's new leader in Wales, Vaughan Gething, has already been embroiled in a scandal over a large donation he took, and may yet be unseated by it. Wes Streeting, who has championed a greater role for privatization in the NHS and is likely to be the next health minister, has so far accepted £175,000 from donors linked to private health firms. I could go on.