Introduction

The forthcoming General Election will be one of the most decisive in British post-war history. If the Conservatives were to win again, it would confirm that British democracy is a sham - that we live in a one-party state and the electorate will exact no penalty for broken promises and the abuse of power.

Analysis of the Conservative Party

Will Hutton argues that the Tories can no longer be trusted: the recent economic growth is little more than a catch-up from the lost recession years, while investment is still weak and inflation high; Black Wednesday revealed the Government's economic incompetence; and taxes have risen by a record in post-war Britain.

Labour's Position and Vision

Tony Blair has skilfully exploited the Tory divisions and successfully remodelled his party: New Labour is reformist, committed to social justice, solidarity and achievable levels of equality.

The years of Tory Government have revealed the shortcomings of a free-market economy: a big shift of economic power to the employers and a sharp rise in inequality.

Call to Action

Will Hutton urges Labour not to embrace a Conservative agenda in economic terms but to deal with the challenge of structuring the free-market economy to get the best balance of growth and a good society, and to make fundamental choices over the character of the capitalism we want to develop.