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Paul T Horgan: Labour’s proposals would destroy private industry

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Labour’s election manifesto is to be launched next week. However, the draft manifesto has already been leaked. It will be interesting to compare what stays in and what is added after the party’s committee, chaired by its leader Jeremy Corbyn, works through the text.

The manifesto is a place where innocuous-sounding phrases are used to mask sinister intent. The document is an exercise in the concealment of the Marxist-Leninist ideas behind its creation.

For instance, Jeremy Corbyn’s policy of unilateral nuclear disarmament is concealed behind the sentence ‘Labour will lead multilateral efforts with international partners and the UN to create a nuclear free world.’ It could be argued that abandoning our nuclear deterrent is a way of ‘leading multilateral efforts’. Unilateral disarmament could be regarded as an effort to ‘shame’ Vladimir Putin into abandoning his own arsenal. Yeah right, comrade.

However, there are other gems. One of these proposes the end of the private sector:

‘At present directors owe a duty to promote the company for the benefit of the shareholders, and must only have regard to employees, suppliers, the environment etc. Labour proposes to amend the Companies Act 2006 so that directors owe a duty directly to these groups and will consult on who the duty will be owed to.”

This would force business owners away from the primary purpose of adding value and creating wealth. The ‘etc’ could include not just the unions, but any kind of organisation or radical pressure group that wants to ban this or prevent that. It is not inconceivable that there would be a cohort of latter-day Red Guards, willing and able to invade businesses one by one as part of a Corbynite cultural revolution, to make them toe the ideological line by creating spurious duties that destroy profitability. Management would lose the right to manage. Owners of businesses would walk away, to be replaced by a workers’ co-operative. Jobs would become more important than actual work performed, as it is in the state sector. The UK economy would be ruined.

Starting and running a profitable company is challenging enough. Having to take account of the whims and caprices of young starry-eyed Corbyn enthusiasts or the dogma of thuggish Stalinists would make it all but impossible.

(Image: Andrew Kitzmiller)

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Paul T Horgan
Paul T Horgan works in the IT Sector. He lives in Berkshire.

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