Is it the large number of suits and ties, the neat organization, the Google stands, or Barclays, or the somewhat incongruous presence of the centre-right think tank Onward? There is something unusual in the air at the annual British Labor Conference, which took place until Wednesday September 28 in Liverpool (north-west England). An undeniable wind of optimism: “The atmosphere is one of trust”, has also launched Keir Starmer, the leader of the party, Monday, September 26, during an improbable round table with Gary Neville, ex-player of Manchester United, converted into a businessman and recently become a member of the party.
A year ago, at its previous annual conference, the British left was tearing itself apart in public, still not recovered from the turbulent presidency of Jeremy Corbyn and his crushing defeat in 2019 against the Conservatives. Dozens of “red” constituencies in the north of the country then turned “blue”. Boris Johnson had not yet fallen because of “Partygate” and the return to power of Labor, after eleven years (at the time) of Conservative government, seemed unlikely. Now it’s a whole different story: “We have the feeling of being a government in waiting”, dared to declare Keir Starmer.
Currency storm
It must be said that the spectacular tax cuts or the end of the cap on bankers’ bonuses announced on Friday, September 23 by Kwasi Kwarteng, the Chancellor of the Exchequer of Liz Truss, offer them a boulevard. Designed to favor the rich in hopes of reviving growth, these huge tax giveaways financed by public debt have unleashed a monetary storm. On Monday, the pound sterling hit an all-time low against the dollar, signaling a loss of market confidence in the UK economy. So much so that the Bank of England had to communicate urgently, saying it was ready to continue raising its key rates, to limit the tumble of the pound.
“If key rates rise to 5%, Britons with variable rate mortgages or those who intend to buy are heading for very difficult times. And a real estate crisis is to be feared », warned from Liverpool Torsten Bell, of the Resolution Foundation think tank. With polls regularly giving them a lead of around 10 points over the Tories (and even 17, according to a YouGov poll for the Times, published on Tuesday), Labor is dreaming aloud of a Tony Blair victory, as in 1997 or 2001.
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