Conservative protesters outside Chatham House during Ed Miliband's speech on foreign policy. Photograph: Getty Images.
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Why the SNP wouldn't drag Labour far to the left

The nationalists are barely more left-wing to begin with.

The belief that a Labour minority government reliant on SNP support would be dragged significantly to the left has hardened into conventional wisdom. Some, such as Len McCluskey, welcome this prospect, while the Tories and others issue dystopian warnings of a high-spending, high-taxing, high-borrowing administration that scraps Trident. Slightly embarrasingly for Labour, Peter Mandelson's consultancy firm Global Counsel has warned: "[The SNP will] pull the Labour party to the left, away from the centre ground of English politics. This will include pushing Labour towards higher public spending. In addition, the SNP will intervene in some high-profile policy areas, such as by attempting to block the replacement of the Trident nuclear fleet."

But as I've written before, the SNP's leverage is nowhere near as great as stated. In the case of Trident, those MPs in favour of renewal (most of Labour, the Tories and the Lib Dems) will far outweigh those opposed. As long as the Tories are prepared to walk through the division lobbies with Miliband, there is no chance of the SNP blocking defence spending (as its deputy leader Stewart Hosie has grandiosely suggested they would).

On fiscal matters, the SNP wouldn't drag Labour significantly to the left for the simple reason that isn't much to the left to begin with. As the IFS noted last week, the party's "stated plans do not necessarily match their anti-austerity rhetoric". The nationalists' commitment to ensure that the deficit and the national debt fall "in every year as a share of national income" means that they have less room for manoeuvre than assumed. Indeed, under some assumptions, the SNP would cut public spending by £5bn more than Labour over the next parliament. Ed Miliband and Ed Balls responded by emphasising that Labour wanted to deliver a surplus on the current budget, rather than merely balance it (which could entail greater cuts), but the gap between the two parties is still marginal.

In the case of tax, the SNP manifesto proposes "the reintroduction of the 50p top tax rate, a tax on bankers' bonuses, a bank levy, a mansion tax, a crackdown on tax avoidance, the abolition of 'non dom' status, reversal of the married couples' tax allowance, and a review of the pension tax relief available to the wealthiest." But every one of these measures is already supported by Labour. Indeed, it was arguing for them long before the SNP. Only recently, under Nicola Sturgeon's leadership, has the party unambiguously embraced social democracy. Under Alex Salmond, it refused to support a 50p tax rate and argued for a 3 per cent cut in corporation tax. If anything, as Stephen argued recently, it's the SNP that has been dragged leftwards by Miliband.

But in politics, perception matters more than reality. And as the most recent Scottish polls show (with the SNP reaching a new high of 54 per cent today), the perception that the nationalists are far to Labour's left is one that is doing them no harm at all.

George Eaton is political editor of the New Statesman.

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Jeremy Corbyn appoints Shami Chakrabarti to lead inquiry into Labour and antisemitism

“Labour is an anti-racist party to its core," says leader.

Jeremy Corbyn has announced plans for an independent inquiry into antisemitism in the Labour party.

The review – led by Shami Chakrabarti, the former director of the human rights campaign group Liberty – will consult with the Jewish community and other minority groups, and report back within two months.

Its vice chair will be the director of the Pears Institute for the Study of Anti-semitism, Professor David Feldman.

The move follows a week in which the party suspended Bradford MP Naz Shah and former London mayor Ken Livingstone, amid claims that both had made antisemitic remarks.

But Corbyn told the Guardian: “Labour is an anti-racist party to its core and has a long and proud history of standing against racism, including antisemitism. I have campaigned against racism all my life and the Jewish community has been at the heart of the Labour party and progressive politics in Britain for more than 100 years.”

He added that he would not see the results of next Thursday's local elections as a reflection of his leadership, and insisted that he would not be held to arbitrary measures of success.

“I’m keeping going, I was elected with a very large mandate and I have a huge responsibility to the people who elected me to this position," he said.

Jonn Elledge is the editor of the New Statesman's sister site CityMetric. He is on Twitter, far too much, as @JonnElledge.