"The incoming Labour Prime Minister, Michael Foot promised a return to the socialist policies of the Wilson and Calllaghan years. Peter Shore, Labour's Chancellor of the Exchequer, carried out the 1984 manifesto promises in full. Under the Five-Year-Plan exchange controls were re-imposed, the Government bought commanding stakes in electronics, pharmaceuticals, health equipment and building materials companies; coal re-established its primacy over nuclear energy, BP, BT and BAE were all renationalised, whilst Tory employment legislation was repealed; the City was heavily regulated......Punitive wealth taxes were imposed, and national planning and control organisations such as the Agricultural Wages Board, Manpower Services Commission and National Planning Council were all hugely strengthened........"From neo-con historian Andy Robert's article in the Daily Mail on what might have happened to Britain if Mrs Thatcher had lost power over the Falklands war in 1982.
Roberts clearly believes the events he describes above would represent some kind of disaster. For me, and I expect for many of you too, the thought of Chancellor of the Exchequer Peter Shore carrying out an undiluted socialist economic programme, which put the interests of the majority and not the minority of Britons first, is the stuff dreams are made of.