'Labour needs to take on the City'

One of Labour’s leading lights on economic policy has called on the party to take on the City as Thatcher took on the unions. Load Error In an exclusive interview with Yahoo Finance UK, Grace Blakeley, a former KPMG management consultant, said time has come for Labour to “use power to shift power”. She urged the party to be prepared to “use the tools of the state” to create a new public banking system, repeal anti-union legislation and fundamentally change the housing market it. The conference was also reassured that Labour would standby its a manifesto promising the biggest transfer of power from private to state hands by a major party this century. “But alternative ownership models should be considered for corporations given how influential they are.” Blakeley also highlights the importance of the Labour movement supporting campaigns around the climate crisis. The success of [Extinction Rebellion] and the school strikes have shown how it is the biggest issue concerning younger voters ... Labour has to make it a much bigger part of it’s programme,” Blakeley says. “It is now in line with Marx, which has led to a wider coalition, more likely to call out the root causes of climate change such as the well off taking regular flights and the substantial ecological footprint of corporations.”