What is in the UK Labour Party’s manifesto?

 

What is in the UK Labour Party’s manifesto?

By
Robert Stevens

13 May 2017

Britain’s Conservative-supporting media have declared Labour’s manifes to to be a “socialist” document. The following excerpts demonstrate that it is in fact a right-wing programme, committing a Labour government to continuing austerity, militarism and war.

The economy

Clause IV of Labour’s constitution committed the party, until its removal in 1994, “To secure for the workers by hand or by brain the full fruits of their industry and the most equitable distribution thereof that may be possible upon the basis of the common ownership of the means of production, distribution and exchange, and the best obtainable system of popular administration and control of each industry or service.”

Labour leader Jeremy Corbyn’s manifesto declares: “Labour understands that wealth creation is a collective endeavour—between investors, workers, public services, and government. Each contributes and each must share equitably in the rewards.”

The Fiscal Credibility Rule

Labour calls for a £250 billion “ten-year national investment plan to upgrade Britain’s economy.” However, this is “underpinned by the responsible economic management embodied in our Fiscal Credibility Rule” committing the party “to eliminate the current spending deficit on a forward-looking, five-year rolling timescale… Leave debt as a proportion of trend GDP lower at the end of each Parliament than at the start.”

Every spending commitment in the manifesto is subject to veto as the Fiscal Credibility rule will “make the Office of Budget Responsibility responsible to Parliament with a clear mandate to ‘blow the whistle’ on government breaching these rules.”

Corporation Tax

Labour proposes to fund its…

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