Opinion | Don’t expect a Labour government to fix broken Britain

Twice in the last 50 years, the political landscape of Britain has been dramatically reshaped: first by Margaret Thatcher’s Conservative triumph in 1979, and then by Tony Blair’s New Labour surge in 1997. Now, the nation stands at the precipice of another transformative moment.

It is a virtual certainty that after an often tumultuous 14-year reign, the Conservative Party’s era is concluding. The expected wipeout election would be the culmination of self-destructive behaviour, but the ripple effects will go far beyond the Tory seats in Britain’s parliament.

Remember when, in the fervour of the Brexit campaign, promises flowed like a torrent from the mouths of its proponents? Britain was to rise again, a phoenix from the ashes of its European Union shackles, reasserting itself as a global power reminiscent of its past.

The economic landscape post-Brexit is far from the renaissance that was promised. While in the first quarter of 2024, the UK’s gross domestic product grew by 0.7 per cent, the highest quarterly growth rate among Group of Seven nations, this performance is an outlier compared to the overall slower growth trend observed over the years since Brexit. The UK’s trade volumes have suffered a record five-year decline.

A case can certainly be made that the aftermath of the global financial crisis, a worldwide pandemic and Russian President Vladimir Putin’s aggression in Ukraine have not helped. However, much of the damage has been self-inflicted and it starts with our political leaders and parties.