Labour is Going Back to 1940s

Paul Johnson, the director of the Institute for Fiscal Studies, on the manifesto…

“It’s certainly transformative what the Labour Party is suggesting here, and I think it’s important to be clear that this is not just about tax and spending; this is about the state getting deeply involved in much more of the private sector than it has been, certainly since the 1970s, and perhaps since the 1940s, with respect to, say, telling banks which branches they can’t close; setting minimum wages for a quarter of private sector workers and about 60% of young people, and dramatically improving labour regulation. All of those things are utterly different from anything we’ve experienced in many, many decades.

If you take what’s here at face value, then much of it I think is unprecedented even in the 1970s. This is a level of state intervention that probably goes back more decades than that.”

mdi-timer May 11 2017 @ 16:03 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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