History will judge New Labour harshly. Unlike the 1945 government, it lacked a reforming vision – but the financial crisis provides an unprecedented chance for renewal
We can already see New Labour in some kind of historical perspective; and the judgement of history will not be kind. At the next election the voters will consign it to opposition and probably desert it in huge numbers, possibly on the scale of the Conservative defeat of 1997. Of course, in our electoral system, even a government that lasts three terms eventually returns to the opposition benches: there is not necessarily any ignominy in that. It depends on its legacy. I vividly recall a discussion at a seminar in 1998, organised as part of the preparation for a special issue of Marxism Today on New Labour. Most of the participants were to varying degrees inimical to New Labour and sceptical about its agenda. The few who were supportive argued that the key task was to secure two or more terms.