Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
Quantum AI Stocks Investing Priority - 26th Jan 22
Is Everyone Going To Be Right About This Stocks Bear Market?- 26th Jan 22
Stock Market Glass Half Empty or Half Full? - 26th Jan 22
Stock Market Quoted As Saying 'The Reports Of My Demise Are Greatly Exaggerated' - 26th Jan 22
The Synthetic Dividend Option To Generate Profits - 26th Jan 22
The Beginner's Guide to Credit Repair - 26th Jan 22
AI Tech Stocks State Going into the CRASH and Capitalising on the Metaverse - 25th Jan 22
Stock Market Relief Rally, Maybe? - 25th Jan 22
Why Gold’s Latest Rally Is Nothing to Get Excited About - 25th Jan 22
Gold Slides and Rebounds in 2022 - 25th Jan 22
Gold; a stellar picture - 25th Jan 22
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
WARNING - AI STOCK MARKET CRASH / BEAR SWITCH TRIGGERED! - 19th Jan 22
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Red Ed Miliband New Leader of the Labour Party

Politics / UK Politics Sep 26, 2010 - 04:29 AM GMT

By: Pravda

Politics

Ed Miliband, 41, is the new leader of Britain's Labour Party, beating his brother, former Foreign Secretary David, in the final round of voting, having wooed the Left, promising to unite Labour after years of covert division between Blairites and Brownists, promising tax rises over public spending cuts and earning the label "Ed Red".


However, Ed Miliband understands that radicalism and British politics do not mix and whereas in the European Union there are countries like Portugal with around 20 per cent of the vote deposited in parties to the left of the Socialists (center/center-right) in Britain such would be impossible. The two Communist Parties (PCB and CPGB) do not between them have a single Member of Parliament due to the first-past-the post electoral system and due to the fact that their party membership is counted in the hundreds, rather than the thousands, although this does not reflect the influence they enjoy in diverse sectors of society and formulation of policy.

Therefore Ed Miliband's stance during Labour's internal election campaign as a man of the Trade Unions (many will remember the times when they brought the country to a standstill in the 1970s) will have been little more than electioneering, the more so because he rejects the nickname "Red Ed" and declares upon announcing his victory that "It's not about some lurch to the left, absolutely not". With Ed Miliband, Labour remains in the center.

So where does the Red Ed label come from? The Miliband brothers are sons of the Marxist theorist Ralph Miliband and Ed's support came mainly from the Trade Unions and affiliated societies during the election campaign, whereas his brother David has marginally more support among the MPs, the Members of the European Parliament and party membership.

Ed Miliband's background, coupled with his position on taxing the banks more and having a higher income tax rate of 50 per cent will have shaped the writings of the opinion makers who baptised him. However, after winning the leadership contest yesterday he has declared loud and clear that his platform is very much at the center of British politics.

Where does he come from?

Born in 1969, he graduated in Philosophy, Politics and Economics from Oxford University and went on to get a Master's Degree in Economics from the London School of Economics. Beginning as a researcher for the Labour Party, as speechwriter for Harriet Harman, the interim leader of Labour who he replaces, he was appointed Chairman of Her Majesty's Treasury's Council of Economic Advisers, working closely with Gordon Brown. Since 2005, he has been MP for Doncaster North and from 2007 to 2010, he was appointed Chancellor of the Duchy of Lancaster, Minister for the Cabinet Office and then Secretary of State at the Department of Energy and Climate Change.

On Saturday September 25 2010 he was announced leader of the Labour Party after narrowly beating his brother David in the final round after the elimination of Ed Balls, Andy Burnham and Diane Abbott.

Where is he going to?

No longer described as the brother of the former Foreign Secretary, Ed Miliband is the leader of the Labour Party, constituting the main opposition to the ConDem alliance between Prime Minister David Cameron's Conservative Party and Deputy Prime Minister Nick Clegg's Liberal Democrats.

With the Conservative-Liberal Alliance vowed to stay the five-year course, Ed Miliband has time to define his party and as leader of the opposition, find the weak links in the Government, where flashpoints are bound to occur among the Conservatives (where leader David Cameron represents the Left Wing of the Party, having many as yet silent critics to his right) and the Liberal Democrats (where leader Nick Clegg represents the Right Wing of the Party, having many critics to his left). While the two leaders make sexy-looking bedfellows, there are many knives behind the curtains, ready to swoop if the draconian budgetary policies of Finance Minister (Chancellor) George Osborne begin to cleave social divisions and strife in an already shaking socio-economic reality.

In the coming weeks his shadow cabinet will be formed and Labour will take shape. But those who expect it to veer to the left are very much mistaken.

Timothy Bancroft-Hinchey

Pravda.ru

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in