Corbyn’s fate greatly depends on the unfolding Brexit drama, expected to climax in the coming weeks as the U.K. pushes for a deal before its scheduled exit in March 2019. But the impact of a Corbyn government, should he assume the reins of power, could be much more significant.
While the prospect of a Corbyn government would likely make post-Brexit trade relations with Europe more straightforward in the short term, predictions of a socialist London have already set alarm bells ringing in Washington, according to U.S. officials asked to draw up memos for the State Department in case of another snap election this year. [...]
Corbyn promised a Britain in which the rich would be more heavily taxed, utilities and the railways would be nationalized, the government would invest in 400,000 jobs focused on tackling climate change, and large companies would be forced to give workers stakes of up to 10 percent and pay annual dividends to staff. He signaled Labour would end British backing for Saudi Arabia in the war in Yemen, immediately recognize a Palestinian state, and tilt firmly away from the U.S. as a key ally.[...]
In 2015, during Corbyn’s first conference, lobbyists were conspicuously thin on the ground, uncertain of how to influence the most socialist Labour leadership in modern history. This year, BP, Google, Visa, Bombardier and Fujitsu were all represented with stands at the conference floor. PwC, Hitachi, Novartis and Cisco all hosted or co-hosted fringe events, and numerous others sent lobbyists keen to fix up meetings with members of a potential government-in-waiting.
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