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by Jamie Cater 22nd October, 2019
3 min read

Capitalism Overthrown? : Understanding Labour’s economic policy

GK Strategy are delighted to announce the launch of our second Labour report, Capitalism Overthrown?: understanding Labour’s economic policy.

Click here to read Capitalism Overthrown?: understanding Labour’s economic policy.

Following on from our successful Labour report, What Would Jeremy Do?, in which we broadly looked at what a Labour government might mean for a range of sectors, Capitalism Overthrown?  focuses on John McDonnell, a Labour Treasury  and the economic policy priorities of the Labour Party as it prepares for the possibility of power.

Since Corbyn was elected Labour leader and appointed John McDonnell as his Shadow Chancellor of the Exchequer, McDonnell’s entry in Who’s Who that expresses his commitment to ‘the overthrow of capitalism’ has frequently been utilised by the media to sum him up as a radical leftwinger bent on upending the UK’s political and economic orthodoxy.

Yet Labour is caught between wanting to sell a drastic and fundamental break with the alleged consensus of the last four decades, and presenting its proposals for economic reform simply as a common sense, almost inevitable alternative to a capitalist system that even the Conservatives now appear to admit is no longer fit for purpose. Labour often appears to take a black and white view on the economy and domestic policy questions, but the underlying detail is usually more complex.

At GK, we are helping businesses and investors get to grips with Labour’s plans for the economy. We and they are not just concerned with tax and spend and the macroeconomic impact, but how the party in power might drastically change the rules of the game for businesses and fundamentally shift the balance of power between the state and the private sector, and employers and workers.

With a general election around the corner, now is the time to think about what this might mean for your business and how you can best prepare.

Read the report in full here.

See more articles by Jamie Cater