3way Debate on third way economics

Neil Manthorpe (manthorpen@parliament.uk)
Mon, 06 Jul 1998 11:52:06 +0100

I had some sympathy with what Will Hutton had to say at the conference
on Friday (though he was as long winded as ever despite needing to
leave promptly). It is not enough to say we are not state corporatist nor
free marketeers, but something in between taking the best bits. The only
coherent bit, to keep the City and middle Britain happy, is that we are
tough on inflation and tough on the causes of inflation.

I believe that it was right to control spending for the first two years.
Other measures - making the BoE independent, the CSR and fiscal
stability - show that we are serious about managing the economy.

But what is the big message? I suppose this is what this debate is
about.

The EU is clearly a big factor. Austria are looking to moving towards the
harmonisation of direct taxes during their Presidency. And the Euro
hangs over us. Charlie Leadbeater's article in the NS on taxation is food
for thought. An internet economy (and an internet debate?) has
implications for social inclusion. Or should our first step be a PC in every
home?

Whilst I think one can sum up the third way as, "what counts is what
works" - see the NHS white paper - it does not sound like a coherent
political theory. But what do the voters think?

I look forward to reading other contributions and taking part in the debate.

Neil Manthorpe
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