The British Labour Party released its most radical election manifesto in decades this week.
The manifesto was launched ahead of elections next month, which will be Britain’s third poll in four years.
The manifesto calls for the nationalisation of Britain’s railways, water supply, postal service, and broadband. It also promises to increase the government’s tax take, mainly by hiking taxes on the rich and big business. In addition, Labour says that, if elected, it will raise the minimum wage from £8.21 to £10 an hour; transfer 10% of the shares of each big company to workers; raise corporation tax by seven percentage points to 26%; and slap a windfall tax on oil and gas companies.
The manifesto claims Labour will also do away with tuition fees for university students as well as remove the charitable tax status that private schools have. Currently private schools are considered as charities for tax purposes, meaning they receive a number of tax breaks. This would change under a Labour government.
The manifesto says a Labour government will make the United Kingdom a carbon neutral economy by 2030.
With regard to Brexit, the British withdrawal from the European Union, the party says it would renegotiate a deal within three months, and put this before the country in a legally binding referendum.
It remains to be seen whether this leftward shift will benefit Labour. Most polls have the party at under 30%, well below their main rival, the Conservatives, pegged at over 40%. If these polls hold, this would give the Conservatives a large majority.
The last time Labour had a manifesto this radical was in 1983, when it suffered its worst electoral result since 1918. Time will tell whether the latest offering will find traction among British voters and give Labour a shot at unseating Conservatives, who have governed since 2010.