In 2015 we can create a new history for Britain  

Much has already been said about the disillusionment of current times. Faith in many of our institutions, politics, the media, and the economy is at an all time low. For too many people, too little is either working as it should or is believable. It’s all creating an electoral appetite for change and authenticity that fringe parties are able to exploit.

The Conservatives’ response is classical, offering an essentially technocratic solution to manage ‘business as usual’ within self defined budgetary constraints. They’re also pandering to tabloid ‘red meat’ grievances on issues such as welfare, immigration, and Europe. The media environment is largely sympathetic to this narrative as ‘red meat’ drives inherent news biases towards sensationalism. More worryingly the self imposed fiscal straight jacket underpinning austerity go unchallenged, in what Prof. Simon Wren Lewis brilliantly describes as mediamacro.

So are the odds stacked against a Labour victory in 2015? Absolutely not. As we campaign to end the Cost of Living Crisis, we’re acknowledging that the old history which shaped the political discourse since 1980 ended during the 2007/8 global financial crash; maybe even earlier according to Larry Summers (former US Treasury Secretary under President Clinton.) In a speech last year he revived the theory of Secular Stagnation – a term first used in the 1930’s . This prolonged period of economic stagnation is the financial reality for most people now. Real wages are depressed; still below the levels of 2008. Too many new jobs are low paid, and productivity growth is historically weak endangering our long term prospects even further.

The policy response required to end this perioid of sustained economic stagnation is radical. For example in an interesting series of short papers from across the economic spectrum, compiled by Coen Teulings and Richard Baldwin, there’s general agreement that a more active state to free up monopolised markets, and to increase investment in infrastructure & skills is required. And it’s only Labour’s agenda for change that can meet the challenge ahead of us. With a Labour government there’ll be more investment and localised finance streams to boost growth, we’ll embark on a programme of decentralisation to bring opportunities to all of the UK, and we’ll challenge those dysfunctional private markets which affect us all.

In his new year’s message Ed Miliband explained:

“As this new year dawns, we have the chance to change direction; a chance to build a recovery for all of Britain … This year, we have the power to bring about the change working families all over Britain need. This isn’t about idle dreams or empty promises. It’s about a real, concrete plan: a plan for a recovery which reaches your kitchen table.” 

Ed’s message underlines what the real chance we have to create a new positive history for Britain in 2015. So let’s do all we can to make this change happen – we owe it to future generations.

Bally Singh, Labour Prospective Parliamentary Candidate for Kenilworth and Southam