Introduction
From the mid-1990s, the British Labour Party explicitly oriented to free market capitalism and adopted a new version of Clause IV of the Party constitution, which decisively turned away from the original promise to ‘secure for the workers by hand or by brain the full fruits of their industry’ (cited in Gani, 2015). New Labour, as it was branded, pushed politically conservative discourse and policy on social justice (in contrast to redressing poverty and inequality), on workfare (as opposed to welfare), and on crime and immigration, and it implemented public-private partnerships and private finance initiatives to dismantle the public sector and welfare state. New Labour’s landslide electoral successes in 1997 and 2001 indicated its firm hegemony of the Party and the labour movement base: a swing in the Party’s basic contradiction, as a bourgeois-workers’ party, to its right-wing pole.
A majority on the British Left regarded such changes as irreversible. No one predicted that in the Labour Party leadership race of 2015 the socialist candidate of Jeremy Corbyn would win, and with a huge mandate. Corbyn’s election manifesto included demands for growth not austerity, public ownership of the railways and the energy sector, a large-scale public and private house-building programme and rent controls, reinvestment in the welfare state, the abolition of zero hours contracts, and the right of trade unions to organise collectively to redress workplace injustice. While arguably not going far enough, notably, in failing to promise that Labour Party MPs will not implement existing Conservative Government funding cuts to the public sector, Corbyn nonetheless stands in stark opposition to unbridled capitalism.










