But Labour is making considerable pledges on all major fronts — democratic, public ownership of mail, utilities, and rail; sectoral collective bargaining; tackling precarious work and the gig economy; expanding rights for workers to buy out their company; doubling the size of the cooperative sector; restarting the construction of social housing; eliminating outsourcing and stealth privatization of the public sector including the National Health Service ; and, with the Inclusive Ownership Funds, beginning a process of transferring ownership over large firms to their workers.
Many of these proposals will need to be refined. IOFs could automatically grow up to 10 percent, and further issuances could be made as a proportion of profits as in the original Meidner Plan.
This would be a policy for a future manifesto, once these effects are actually seen on the ground. More immediately, Labour will need to plan for the threat of a wholesale capital strike alongside what will almost certainly be a partial withdrawal of private-sector investment. There is still much adversity ahead. But for the first time in a long time, a massive victory could be on the horizon.
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Emmanuel Macron’s Faux Antiracism
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