That’s certainly the case for the UK’s market economy, which just isn’t working properly for a lot of the people in it. If you want to preserve markets, you have to make them work better. Sermons about the evils of socialism and the glories of capitalism are meaningless to most voters, who are more likely to be worried about how far their wages stretch each month and the persistent sense that the businesses which sell them things are out to rip them off. [...]
More than two years on from the EU referendum vote, there are still Conservatives intent on constructing the Leave vote as a demand for deregulation and the dismantlement of social and economic protections. The disconnect between ‘Singapore’ Brexiteers in London and Sunderland Leavers has always been striking, but has never jarred more than in reports that Sajid Javid is arguing in Cabinet that a no-deal Brexit should be followed by the suspension of employment rights and the auto-enrolment rules that have given three million people their first private pension savings. [...]
Some Conservatives insist that their party must reject the option of offering ‘Corbyn Lite’ positions on the economy. Yet that fails to differentiate between diagnosis and prescription. It’s possible to see merit in the Corbyn analysis of markets without endorsing the remedies he proposes. Indeed, I’d argue that enduring support for the Corbyn Labour Party makes it all the more important for Tories to offer their own answers to the questions he asks. [...]
Conservatives, so quick to warn against the problems of state monopoly, should be much keener to tackle the concentration of economic power in private hands: too many British consumer markets are dominated by a handful of big incumbents. Tories should support the challengers who would disrupt that dominance and deliver better for consumers. [...]
Sooner or later, Conservatives must walk back from nativism and accept that the widespread movement of people and demographic change are inevitable parts of modern life and modern Britain. Until the Conservative idea of Britain better matches the reality of Britain, they will always struggle to capture what Disraeli called the “spirit of conservation and optimism” they need to win decisively in this century.
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