The New Statesman endorses Ed Miliband

Why we’re backing the younger brother for the leadership of the Labour Party.

I am pleased to inform you all that the New Statesman has decided to back Ed Miliband for the Labour leadership.

But let's be clear: we believe that both Miliband brothers would make decent, able and progressive prime ministers, and could lead Labour to victory over the Con-Lib coalition at the next election. And there was much debate, discussion and agonising here in the New Statesman offices, with different members of the team backing different candidates.

In the end, however, we agreed that Ed Miliband best represents the historic ideals, values and ambitions of this magazine.

From this week's leader (which hits the newsstands tomorrow):

So far, of all the candidates, it is Ed Miliband who has been most prepared to challenge New Labour orthodoxies, to use a different kind of language. He advocates a Labour agenda that is confident, forceful and empowering, committed to greater freedom, social justice and, above all else, reducing inequality.

The primary task of the next Labour leader has to be to develop a political economy that addresses the fundamental inequalities and inequities that have blighted British society for so long -- and which will only worsen as the Con-Lib coalition's doctrinaire spending cuts begin to bite. To talk of tackling social mobility, as coalition ministers do, without addressing the ever-widening gap between rich and poor, is disingenuous. The fight for a more equal society has to become a priority again and Ed Miliband understands this (see his column on page 21). Witness his living wage campaign, his proposal for a high pay commission and his insistence on keeping the new top rate of tax for high earners.

Ed Miliband also understands that the Labour Party must once more become part of a much larger and wider movement for change -- a true movement, transcending class divisions and geographical boundaries. Rightly or wrongly, he is less contaminated than his brother and Ed Balls by the fallout from the radioactive Brown-Blair wars. With the exception of Diane Abbott, he has been most robust in denouncing the Iraq war as a great wrong, a moral failure. He has placed civil liberties and the restoration of freedoms lost during Labour's 13 years in office at the centre of his campaign. On constitutional reform, he supports the Alternative Vote, if not full proportional representation, and is an instinctive pluralist.

But our editorial position should not be seen as an attack on the other candidates and, in particular, David Miliband and Ed Balls, as the leader goes on to argue:

Our endorsement of Ed Miliband is not a rejection of his brother, nor indeed of Ed Balls. Mr Balls in particular has been impressive during this contest. As an astute and experienced economist, he is the most numerate of all the candidates. As the coalition has already discovered, he is a formidable opponent, unrelenting and forensic . . . The contest, however, is a two-horse race. David Miliband deserves his title of "front-runner". Despite his mistaken support for the catastrophic invasion of Iraq, the elder Miliband has the intellect, eloquence and experience to be Labour leader and prime minister.

The leader concludes:

The elder Miliband remains the bookies' favourite, the best-funded candidate, with the support of the New Labour establishment and much of the right-of-centre commentariat. For all of this, the race is open. Voting begins on 1 September and we urge all undecided MPs and MEPs, and Labour Party and trade union members, to vote for Ed Miliband. He is the "change candidate" who has the greatest potential to connect with a wider electorate and especially with those politically engaged young people, internationalist in outlook, who have lost faith in conventional Westminster politics but yearn for a more democratic, fairer and freer Britain. Labour needs a bold, charismatic, compassionate and visionary leader to renew the party and begin the journey back to government. Ed Miliband has shown us he could be that leader.

So will Ed M win? That's the $64,000 question. I have a hunch that Ed will win it by the narrowest of margins, thanks to transfers of votes from Balls, Burnham and Abbott supporters.

But it's just a hunch. That's all it is. Like the general election result, which all the pollsters and most of the commentariat got wrong, this Labour leadership race is too close to call. The party hasn't had a leadership election in 16 years -- and, back in 1994, Tony Blair had no credible rivals. And the 2007 deputy leadership election is a reminder of how second preferences can make all the difference.

Let the voting begin!

Mehdi Hasan is a contributing writer for the New Statesman and the co-author of Ed: The Milibands and the Making of a Labour Leader. He was the New Statesman's senior editor (politics) from 2009-12.

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George Osborne takes up job at BlackRock - but what does it mean for politics?

The former Chancellor insists he hasn't forgotten about the Northern Powerhouse.

George Osborne is to take up a part-time role at asset management giant BlackRock.

The former Chancellor is understood to have been hired by the chief executive of the world's biggest investor, Larry Fink. He will be working alongside his former economic adviser Rupert Harrison.

The appointment has been approved by the Independent Appointments Committee and Osborne intends to continue as a backbench MP.

He said: "I am excited to be working with the BlackRock Investment Institute as an adviser. BlackRock wants better outcomes for pensioners and savers - and I want to help them deliver that. It's a chance for me to work part-time with one of the world's most respected firms and a major employer in Britain. 

"The majority of my time will be devoted to being an MP, representing my constituents and promoting the Northern Powerhouse.  My goal is to go on learning, gaining new experience and get an even better understanding of the world."

Once tipped as a future Prime Minister, Osborne's career ambitions were stymied after he backed Remain in the EU referendum and was sacked in Theresa May's Cabinet reshuffle. Whether he will find the halls of fund managers more comfortable than the green back benches is yet to be seen, but for now he has been clear he intends to continue his constituency duties. 

He will work at the BlackRock Investment Institute, which researches geopolitical, technological and economic trends. 

He is expected to provide insights on European politics and policy, Chinese economic reform, and trends such as low yields and longevity and their impact on retirement planning. 

While the pay packet has not been officially confirmed, Sky News quoted a source saying it would be hundreds of thousands of pounds.

But the move will also place a pro-Remain former Chancellor at the heart of the City of London, just as his Tory front bench is losing its support over Brexit negotiations.

Speaking shortly after the EU referendum vote, BlackRock chief executive Fink said he "didn't get a lot of sleep" the night of Brexit, and that the decision had led to greater uncertainty. 

 

Julia Rampen is the editor of The Staggers, The New Statesman's online rolling politics blog. She was previously deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines.