Sir Keir Starmer met with the fat cats of industry yesterday, not to hold them accountable, not to ensure they contribute fairly to society, but to pledge his unwavering commitment to their cause (the Times reports).
In a move that will have Thatcher chuckling in her grave, the Labour government has made its position abundantly clear: the interests of big business come first, people and planet be damned.
Starmer, ever the corporate cheerleader, declared war on regulations—those pesky protections that stop the reckless greed of industry from running roughshod over society.
He likened them to "Japanese knotweed," promising to uproot them with Thatcherite zeal. And what will this brave new world of deregulation bring? More infrastructure projects to ravage the environment, the further plundering of pension funds, and a finance sector unshackled to bombard Brits with savings products designed to deplete, rather than secure, their hard-earned money. And of course, all of this without the "burden" of consumer protection.
This follows the government's October tax hikes—£40 billion lifted straight from the pockets of pensioners, businesses, farmers, and employers. But, ever the political contortionists, the Labour leadership denounces their predecessors' "barriers to growth" while implementing policies that fill the coffers of the ultra-wealthy at the expense of those scraping by. Starmer and his Chancellor, Rachel Reeves, present themselves as the saviours of the working public while enthusiastically dismantling every safeguard designed to prevent their economic exploitation.
Labour's grand vision? "Big building" and "hardwired growth," pursued "further and faster," as if the global financial crisis of 2008—brought on by precisely this brand of deregulation—never happened. Lest we forget, it was the public who footed the bill for that catastrophe, bailing out the very same banking elite who remain unscathed today, their fortunes intact, their influence undiminished.
Now, we are expected to trust that this time will be different. Starmer and Reeves assure us they are committed to protecting employment rights and ensuring "secure" jobs. But in the same breath, they rail against regulatory "overreach," painting watchdogs and environmental protections as mere obstacles to their grand plan. When business lobbyists complain about the sheer volume of regulation (read: the bare minimum required to prevent corporate malpractice), Starmer nods along in agreement, assuring them he hears their concerns "loud and clear."
His rhetoric is eerily familiar. Margaret Thatcher slashed regulations to "liberate" financial markets, and the consequences were disastrous. Liz Truss promised a "supply-side revolution," and we all saw how that ended. Now, Starmer, the man who was once seen as a champion of working people, is pledging to finish what they started.
And for what? So that corporate executives can maximise profits unhindered by silly little things like environmental impact, workers' rights, and public safety. So that pension funds can be raided, savings siphoned, and essential services stripped to the bone in the name of "efficiency." All while the average voter—who was promised a government that would "fill their empty pockets"—watches as their financial security is further eroded.
The very idea of a Labour government that seeks inspiration from Thatcher should send shivers down the spine of anyone with a sense of history. But here we are. The deregulation express is leaving the station, and the only passengers with first-class tickets are the ones who least need the help.
One thing is clear: this government is not here for you. It’s here for them.
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