Witnessing Labour being well-received by the City, accompanied by endorsements from austerity hero George Osborne, incites a peculiar sensation. It appears, I am not alone in this sentiment. Conversely to the past, when a substantial waiting period was necessary to evaluate a policy’s success, today’s dynamics allow immediate feedback.

Labour’s rapport with business demonstrates a perplexing union akin to vodka and tomato juice, or even socks with sandals. From my perspective, Labour, while not being anti-business per se, should advocate more for the workers. This includes fair wages, elimination of zero-hour contracts, and more. When Labour’s policies gain traction in the City, and are even applauded by George Osborne, it stirs unease. It seems this view is not unique to myself. The landscape has evolved to where reactions to policy implementations can be gauged much more rapidly than before.

Common sensibilities would suggest a 50-year span post the departure of a state head to adequately assess the legacy left behind. The present, however, allows much quicker evaluations – Liz Truss’ impact, for instance, took merely about 45 minutes to decipher. Savanta quickly released a poll post Labour’s Business Conference conclusion. Only 20% of the public supported uplifting the cap on bankers’ bonuses, with apathy being the overarching sentiment towards maintaining the corporation tax. Experts have voiced concerns around the perception that Labour is not undertaking any revolutionary moves for the economy.

Savanta’s Chris Hopkins observed, “Labour have succeeded in presenting their case as no threat to the British public. This could potentially propel them into governance. However, there is an apparent longing for a more audacious approach yet to be satisfied.” The real issue is the precarious balance of interests. When business interests feel threatened, there is often fierce opposition to change. For instance, the CBI has urged Labour to soften its stance on workers’ rights. Additionally, offshore energy representatives warn a windfall tax on profits could lead to significant job losses.

It’s vital for Mr Starmer to maintain his resolve. Engaging with business is a sound strategy, but allowing them to determine Labour’s governing approach is a completely different issue. We have experienced 14 years of manipulation by the wealthy elite. More immediately concerning for Mr Starmer is the uproar regarding the £28 billion green investment pledge U-turn. This move is not well-received, even though the party has managed it effectively. However, it fuels the quick-spreading Tory narrative about indecisiveness.

The most shocking Tory critique this week came during the Prime Minister’s Questions, with Mr Sunak making an insensitive joke about trans rights. An insider commented, “The situation was appalling, but the genuine shock illustrated by people’s reactions was the truly startling aspect.” This sentiment will be echoed in the future, further intensifying the conflict. In the words of Cormac McCarthy, what we have witnessed will be “nothing compared to what’s on the horizon”…

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