Political parties

Old labour - traditional position of the labour party

Social democracy (centre left wing)

Supported the nationalisation of the industry (business are owned by the state) - aim is full employment + provide national self-sufficient work.  

New labour - (centre)

Created by Tony Blare (prime minster from 1997-2007)

Privatisation (introduced by Margret thatcher) - individuals own the businesses

Bigger tax yield for the state  — free market economy = drives compition and choice

Left wing - socialists

High taxation used to better public services

High levels of regulation to make the economy fairer (for the workers)

Progressive social views 

Support humanitarian intervention (moral reasons)

Don’t support military intervention

Right wing - conservative

 Low taxations (believe that wealth creation is an aspirational feature of society) - provides incentive for people to work harder and innovate

Low levels of regulations 

Traditional social views

Would support military intervention - especially if it helps the countries national interest.

One nation - Conservative party

Centre right

Ensure stability in the country - in terms of economic equality

In favour of progressive taxation - to ensure equality in public services

New right - Margret Thatchers wing of the new right (1979-1990)

Free market economics

Social conservatism

Traditional views — eg. The teaching of homosexuality in schools (section 28)