Posts Tagged ‘financial crash’

What if Labour was level pegging with the Tories in the polls? Adjust for the vaccine bounce and its all a lot closer than today’s headlines

19/05/2021, 10:33:16 PM

by Atul Hatwal

It sounds absurd, how can Labour be level pegging with the Tories? The government has just smashed Labour at the May elections and regularly registers double digit leads in opinion polls. All true but we are also emerging from the long dark tunnel of the pandemic and if we look at the bounce in polling that governments have received in the past, as the country exits’ crises, there are reasonable grounds to believe Labour’s underlying position is a lot stronger than the current polls.

Rewind to the financial crash of 2008; in the year preceding the crisis the Labour government’s polling was abysmal – for the three months before the collapse of Lehman Brothers in mid-September 2008, the average Tory lead was 19.5%.

By December, as the various global bailouts and interventions appeared to be working with the prospect of normality, or at least stability, beckoning, the average deficit for the Labour government through the month was 4.6%, an improvement of almost 15% on their pre-crash performance. In terms of a parallel, the country is in a similar phase at the moment – optimism and relief that whatever the government has done is having an impact with Britain on a path out of the darkness.

As we know, Labour’s poll improvement at the end of 2008 was not sustained, in the first six months of 2009, the average Tory poll lead was 14.2%, a rise of 9.6% on the position in December.

When trying to quantify the vaccine bounce, this is the key figure. This increase in opposition polling, a rise in the Tory lead over the government of 9.6% quantifies the shift in public opinion from the optimism of seeing the back of the crisis, from focusing so heavily on what the government is doing, to returning to everyday life.

Applied to today, depending on your pollster of choice, a 9.6% boost for the opposition would see Labour either narrowly ahead or narrowly behind the government. This probably better represents the underlying state of play than a snapshot of polls in a phase when the crisis bounce is at its highest for the government.

Not convinced?

Let’s wind the clock further back, almost 40 years to the Falklands war. From a contemporary perspective, a faraway dispute with Argentina over some small rocks in the South Atlantic might not seem comparable to the financial crash or the pandemic, but in the context of the time, it was a huge, all-consuming crisis which cut to the core of Britain’s identity and Mrs.Thatcher’s leadership.

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Labour must be more than technocrats. The challenge is to lift Britain out of its moral depression

17/07/2015, 03:37:48 PM

by Gordon Lynch

A common observation about the Labour leadership contest this summer is that the candidates, for all their relative strengths, have not yet succeeded in providing a compelling vision of our country’s future and the role of the Labour party within it.

Where this wider debate has begun to open up it has been primarily in terms of differing positions towards deficit reduction and austerity. But whilst Labour’s ability to provide a credible economic plan for Britain’s future is undoubtedly the threshold that must be met for it to be taken seriously by the electorate, it is not sufficient to provide a powerful vision of our collective future. Nor does a focus on the failings of Labour’s last general election campaign provide a sufficient analysis of the depth of electoral disillusionment with progressive politics at the moment.

The roots of this disillusionment do not lie simply in the public blaming Labour for the current financial deficit. It lies in a moral depression which began before the financial one.

Since the relative euphoria of Labour’s electoral success in 1997, there have been three significant moral traumas in which public confidence in progressive politics has been deeply damaged. The first was the decision of Tony Blair’s government, with strong Conservative support, to engage in the 2003 Iraq War against unprecedented popular opposition. The party that had won in 1997 by articulating the public’s moral aspirations betrayed this six years later when it embarked on a war that was so deeply at odds with the ethical foreign policy that it initially espoused. The fact that the 2003 war set in motion a chain of events that has now led to the horrors of the rise of ISIS only perpetuates a residual sense of despair at such a fundamental failure of Britain’s political institutions to respect the moral convictions of its people.

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According to Westminster groupthink, Andy Burnham is favourite for leader. Yet again, it’s wrong

18/05/2015, 06:32:58 PM

by Atul Hatwal

The Westminster groupthink, which recently had Ed Miliband walking into Downing street, has a new favourite: Andy Burnham.

Labour MPs talking among themselves and to journalists, journalists talking to each other in Westminster bars and on the conveyor belt of rolling news comment slots, then bouncing off MPs and vocal activists on Twitter – this is the echo chamber that got the result of the general election so badly wrong and has now reconvened to similar effect for the Labour leadership race.

Andy Burnham certainly has support in the PLP, almost half by some accounts, and an active briefing operation shaping journalists’ perceptions. If the leadership election was to be decided among MPs, journalists and Twittervists, he justifiably would be a runaway favourite.

But party members are also involved. Over 220,000 of them. And they do not even vaguely resemble any of the participants in the Westminster groupthink bubble.

Instead, Labour’s members are like the general public.

According to internal party estimates, over 95% do not attend a single party meeting in a year, deliver a leaflet or knock a door. They are not consumed with the minutiae of politics or deeply tribal.

They’ve just made a choice to join Labour, as many people join clubs and societies without any sense that this membership defines their life.

Under Labour’s new leadership election rules, it’s one member one vote. With a membership that reflects the public, the same priorities which so recently decided the general election will similarly shape this race.

Economic competence and the preference for prime minister will be the key criteria against which contenders are to be judged and on both counts Andy Burnham’s candidature is critically flawed.

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