Although it started out with the mantra "Education, Education, Education", and now offers the prospect of "Regulation, Regulation, Regulation", it is "Speculation, Speculation, Speculation" which has defined not only New Labour's time in government, but leadership of the Party itself.
Thus New Labour has presided over a period of unparalleled speculation in the UK economy, notably in the property and financial sectors, to the extent that even leading speculators such as hedge fund managers have suggested the country needs to refocus it's economy back to "making things" : to which advice should be added, "that employ British labour". It is precisely these real needs that should determine the future leadership of the Labour Party.
The question is who could fulfil this role : not, in my view - and present incumbent aside - Alan Johnson (or "Corporal Johnson" as a Staffordshire Labour Councillor recently called him), David Milliband, Ed Balls (Mr & Mrs) or Harriet Harman. That leaves some space for speculation.
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