Following the revelations, denied by Rachel Reeves, that she plagiarised from other sources in her new book, we contest that both Tony Blair and Keir Starmer’s Labour Party, to which Reeves now belongs, have been plagiarising for decades. Their plagiarising is somewhat different, though. Not a book, but an economy.
Let’s start with the book’s allegations:
Shadow chancellor Rachel Reeves has refuted allegations of plagiarism in her newly released book, “The Women Who Made Modern Economics.” The Labour frontbencher unveiled her work this week, aiming to shine a spotlight on the influence of women on the economy and on her own life. However, a report in the Financial Times disclosed more than 20 instances where “entire sentences and paragraphs were incorporated from other sources without proper acknowledgment,” including Wikipedia, The Guardian, and a foreword from fellow shadow minister Hilary Benn.
In response to the allegations, a spokesperson for Ms. Reeves stated, “We categorically deny the accusations made by this newspaper.” They characterized these incidents as “unintentional errors” and pledged to rectify them in future editions of the book. Ms. Reeves’ publisher, Basic Books, defended the Labour MP, asserting that she never intended to present these facts as original research. They further noted, “An extensive and selective bibliography of over 200 books, articles, and interviews is included. When facts were drawn from various sources, it is not customary for authors to cite each one.”
However, the company acknowledged that errors had been made, emphasizing, “In cases where factual sentences were derived from primary sources, they should have been rephrased and properly attributed. We acknowledge that this did not occur in every instance. As is customary in such situations, we will review all sources and ensure any omissions are corrected in future reprints.”
Now let us take a look at the economics:
The political landscape of the United Kingdom underwent a significant transformation in the 1990s when the Labour Party, under the leadership of Tony Blair, embraced a more centrist approach, later coined “New Labour.” This shift in ideology was characterised by a willingness to adopt certain economic policies traditionally associated with the Conservative Party, which had been in power for the preceding 18 years.
- Embracing ‘Fiscal Responsibility‘
One of the most significant ways in which New Labour mirrored Conservative economic policy was by adopting a stance of what they call ‘fiscal responsibility’. The Conservative government, especially under Margaret Thatcher, was known for its commitment to reducing inflation and government spending, which had a dramatic impact on national and local services. New Labour, recognising the importance of ‘fiscal responsibility’ to keep the establishment and their paid-for journalists on side while also maintaining economic stability, followed suit. Blair’s government maintained strict control over public spending and aimed for budgetary discipline to create a ‘stable’ economic environment. Interestingly, by the end of their tenure, this stable economy had left the UK with almost a trillion pounds of debt. Since then, the Conservatives have increased this debt to almost 2.5 trillion pounds, with most of it occurring before COVID.
- Deregulation and Market-Friendly Reforms
Conservative governments have traditionally championed deregulation and market-friendly policies. New Labour continued in this vein, with Chancellor Gordon Brown implementing reforms such as the independence of the Bank of England, making it responsible for setting interest rates. This move, akin to Conservative economic thinking, aimed to reduce political interference in monetary policy and maintain price stability. This market-led strategy has led to the world’s debt now standing at $91 trillion.
- Prudent Taxation Policies
Under New Labour, there was a commitment to moderate taxation policies, particularly for businesses. While the Conservative Party had historically supported lower corporate tax rates, New Labour introduced competitive corporate tax rates to attract foreign investment. This was in line with the Conservative emphasis on creating a favourable environment for businesses. This ‘favourable environment’ has seen High streets crash and burn and big corporations drive out smaller businesses.
- Commitment to Welfare Reform
One of the most notable areas where New Labour adopted elements of Conservative economic policy was welfare reform. The Conservatives had long been proponents of workfare, which required individuals receiving welfare benefits to actively seek employment or participate in training programs. New Labour introduced the New Deal program, which focused on getting unemployed individuals back into the workforce, echoing Conservative ideals of personal responsibility and self-sufficiency. The Conservatives abandoned the New Deal programme and have spent 13 years smashing the public with austerity policies. Starmer’s Labour has no intention to change this.
- Private Finance Initiative (PFI)
New Labour also embraced the Private Finance Initiative (PFI), a policy mechanism favoured by the Conservatives. PFI involved using private sector funding to finance public infrastructure projects, such as hospitals and schools. This approach was seen as a pragmatic way to fund public services while reducing the burden on public finances. The adoption of PFI was consistent with the Conservative belief in involving the private sector to deliver public services efficiently.
A key drawback of private finance initiatives is that since repayment terms typically include payments plus interest, the burden may end up being transferred to future taxpayers. In addition, the arrangements sometimes include not only construction but also ongoing maintenance once the projects are complete, which further increases a project’s future cost and tax burden.
There is also a risk that private-sector firms may not comply with relevant safety or quality standards when managing a project.
In addition, terminating a PFI contract before it ends can be highly complex, as most projects are not able to secure private financing without assurances that the financing of the project will be repaid in the case of termination. In most termination cases, the public sector is required to repay the debt and take ownership of the project. In practice, termination is considered only as a last resort.
Private finance initiatives were first implemented in the United Kingdom in 1992 and became more popular after 1997. In the 2000s, controversy surrounding PFIs revealed that the government was spending significantly more on these projects than they were worth, to the benefit of the private firms running them and to the taxpayers’ detriment. In addition, PFIs have been criticised by some as an accounting gimmick to reduce the appearance of public-sector borrowing.
Overall, the adoption of Conservative economic policies by New Labour in the late 1990s and early 2000s marked a significant shift in the political landscape of the United Kingdom. The party’s pragmatic approach to embracing popular phrases such as fiscal responsibility, market-friendly reforms, prudent taxation policies, welfare reform and initiatives like the PFI demonstrated their willingness to copy straight from the economic models of the Conservative Party. This establishment-friendly shift was instrumental in New Labour’s ability to win over the editors of the corporate media and therefore the electorate and remain in power for over a decade, emphasising the importance of adapting economic policies that are not radical and have received the approval of those at the top end of the political and economic hierarchy.
Anyone who threatens the status quo is treated harshly, as we clearly saw with how Jeremy Corbyn was destroyed by fake news and lies.
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