The Conservatives have run out of steam. Should Labour win – and it’s highly likely it will – the task facing a Starmer government will be stern and far-reaching.
Gordon Brown’s reforms to CGT encouraged stock market speculators and private equity asset strippers, while it was the Thatcher government that brought rates into line with income tax.
Growth has been elusive for UK governments for decades, and with Brexit challenges now part of the mix, Labour will have its work cut out to deliver on its pledges.
The UK of 2024 is very different than 1997. Back then, Britons had hope for the future. Today, many are disaffected and cynical, hoping things won’t continue to get worse.
Tax evasion crackdowns, efficiency savings and welfare cuts are easy political sells – but getting these measures to deliver large amounts of revenue is much more difficult.
Comparing Keir Starmer’s 2024 election manifesto with Tony Blair’s 1997 document is a helpful way to understand why the vision is grander than is being portrayed.