However, the extent of McDonnell’s ignorance about the economy can be judged from his background. He was first elected to office in Ken Livingstone’s old Greater London Council (GLC) in 1981, and quickly became Livingstone’s deputy, and the GLC’s chairman of finance. If you happen to be having a very dull day, you can read the 1981 manifesto online. Apparently, London’s economy was threatened with terrible decline from the downsizing of its old manufacturing industries, and the “public sector will have to take an active role” to reverse that. The council wanted a “London Industrial Strategy”, that would include “democratic control over industrial decisions” and “control by work-people in the workplace”. A more completely inaccurate analysis of what was to become arguably the wealthiest city in the world over the next three decades would be very hard to find.
Anyone think London would be better off now if that plan had been followed?