View all newsletters
Sign up to our newsletters

Support 110 years of independent journalism.

  1. Business
  2. Economics
24 September 2011

Labour’s “economic credibility“ problem

Everyone agrees that the party needs to spell out a clear alternative to the coalition's cuts -- so

By Samira Shackle

As Labour gears up for its annual conference, the focus is, predictably, on the economy – namely, how the party can win back the public’s trust. Growth may be but a distant dream, while unemployment figures offer no comfort, but the coalition’s relentless message that “Labour got us into this mess” seems to have got through to the public.

The most effective line in Nick Clegg’s speech to the Liberal Democrats’ conference last week was when he hit back at Ed Balls’ claim that the coalitions’ cuts were “too far, too fast”, by saying that Labour would have done “too little, too late.”

The latest Guardian/ICM poll shows that only 34 per cent of voters think Labour has the right policies to rescue the economy. Even among definite Labour voters, only 66 per cent back the party’s economic plans. This is despite other polls consistently showing that the public is nervous about the speed and scale of the governments’ austerity measures.

What this shows is that it is not enough to point out that the economy is stalling: Labour must offer a detailed, solid plan about exactly what they would do differently.

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com Our Thursday ideas newsletter, delving into philosophy, criticism, and intellectual history. The best way to sign up for The Salvo is via thesalvo.substack.com Stay up to date with NS events, subscription offers & updates. Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team. The best way to sign up for The Green Transition is via spotlightonpolicy.substack.com
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU

This is a point made by Balls himself today. Discussing ways of winning back credibility in today’s Guardian, he writes:

Families are not asking: “Who was right on the pace of deficit reduction?” They are asking: “Who can get Britain back on its feet?” I believe we can only win public trust by making the case for a credible and compelling plan that will revive growth, get unemployment falling, take the tough decisions to tackle the deficit in a balanced way, and transform our economy for the long term.

A new report (£) by the Fabians reiterates this point:

Saying we would cut, but not by quite as much, or that we will cut by some undetermined amount some time in the future, is not sufficient.

Everyone is agreed that Labour must produce an alternative plan to win back credibility. But this is hardly a new issue; the economy has been the dominant issue for the duration of this government and before. There is certainly a strong argument for not rushing such an important policy, but Miliband has now led the party for a full year. Labour should publish specific plans soon, and get the message out to the public. As we face the prospect of a renewed global economic crisis, there is a political opportunity for Labour — but only if it presents a consistent, credible line tied to a concrete policy. If it waits too much longer, it may well be “too little, too late” to win back their credibility.

Content from our partners
The promise of prevention
How Labour hopes to make the UK a leader in green energy
Is now the time to rethink health and care for older people? With Age UK

Select and enter your email address Your weekly guide to the best writing on ideas, politics, books and culture every Saturday. The best way to sign up for The Saturday Read is via saturdayread.substack.com The New Statesman's quick and essential guide to the news and politics of the day. The best way to sign up for Morning Call is via morningcall.substack.com Our Thursday ideas newsletter, delving into philosophy, criticism, and intellectual history. The best way to sign up for The Salvo is via thesalvo.substack.com Stay up to date with NS events, subscription offers & updates. Weekly analysis of the shift to a new economy from the New Statesman's Spotlight on Policy team. The best way to sign up for The Green Transition is via spotlightonpolicy.substack.com
  • Administration / Office
  • Arts and Culture
  • Board Member
  • Business / Corporate Services
  • Client / Customer Services
  • Communications
  • Construction, Works, Engineering
  • Education, Curriculum and Teaching
  • Environment, Conservation and NRM
  • Facility / Grounds Management and Maintenance
  • Finance Management
  • Health - Medical and Nursing Management
  • HR, Training and Organisational Development
  • Information and Communications Technology
  • Information Services, Statistics, Records, Archives
  • Infrastructure Management - Transport, Utilities
  • Legal Officers and Practitioners
  • Librarians and Library Management
  • Management
  • Marketing
  • OH&S, Risk Management
  • Operations Management
  • Planning, Policy, Strategy
  • Printing, Design, Publishing, Web
  • Projects, Programs and Advisors
  • Property, Assets and Fleet Management
  • Public Relations and Media
  • Purchasing and Procurement
  • Quality Management
  • Science and Technical Research and Development
  • Security and Law Enforcement
  • Service Delivery
  • Sport and Recreation
  • Travel, Accommodation, Tourism
  • Wellbeing, Community / Social Services
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
THANK YOU