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To What Extent is the Labour Party Still Committed to its Traditional Principles - Coursework Example

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The aim of the following study is to investigate to what extent is the Labour Party still committed to its traditional principles. ThHe party in question contributed by way of retaining some of its traditional values while changing the policies for the benefits of the Labour…
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To What Extent is the Labour Party Still Committed to its Traditional Principles
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Download file to see previous pages According to the idea behind it, wealth was distributed amongst the citizens through the collection of taxes. The policy was collectivism since the Labour Party showed shyness to promote ushering into Collective enterprises. Finally, de-nationalization is the way of privatization of state-owned enterprises. Take the example of Labour party, which was elected in the year 1997 and it miserably failed to comply with their pledges with regard to the reversal of privatization of British Rail (Kavanagh 2013).
As far as the welfare areas are concerned, the party in question made mild changes to their policies. It amounts to new wine in old bottle. The party firmly believes that it is the responsibility of the state to provide welfare based on equality. Therefore, it should be available to the whole population by way of maximum taxation. Presently, the Labour party is treating on “back to first principals” approach to the welfare state (Kavanagh 2013).
From the above, it can be said that the party moved in the right direction to further strengthening of the economic policies. The incumbents are of the view that most problems can be resolved by following the free-market economy concept and free-market capitalism that produces some sort of inequalities. These are tolerable provided that the wealth generated should be for the purpose of large-scale benefits for the masses. Due to the mentioned policy, the public opinion is that Tony was greatly under influence. Changing economic ideas reflects that the state should not hamper in providing full employment opportunities. We should go back in the era of 1997 when the incumbent national exchequer managed to pass a law. According to which, the Bank of England determined the interest rate (Kavanagh 2013).
The Labour Party is the hardened believer of economic and social equalities amongst all working groups that include women, homosexuals, transsexuals and racial groups. Their focus is to reduce poverty. ...Download file to see next pagesRead More
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