Labour leaders’ decision to abandon their highly publicized Green Prosperity Plan underscores the party’s ongoing failure to articulate a coherent response to Conservative criticism. Instead of focusing on bolstering their fiscal credentials, Labour leaders should reconnect with the party’s Keynesian roots.
LONDON – Following months of speculation and infighting, the United Kingdom’s Labour Party has officially abandoned its pledge to borrow £28 billion ($35 billion) annually to invest in green-energy initiatives if it wins the next general election.
Although the British media quickly dubbed it the “mother of all U-turns,” Labour’s announcement was hardly surprising. The party has been gradually scaling back its Green Prosperity Plan, first unveiled by Shadow Chancellor RachelRead More »