Old Labour’s international solidarity did not require the abandonment of the national democratic inheritance. But today’s left-liberals simply do not understand the traditional commitment to earning and belonging. This puts them at odds with how people understand themselves. We are beings with a tendency to attachment; in order to be open to the environment our bodies must also be closed; and in physics, atoms have a tendency to cluster. And yet in politics an ultra-liberal ideal developed that belonging, attachment and sociability, reinforced by institutions, should be replaced by the almost unmediated movement of people through space.

Labour should be robust in supporting free and democratic trade unions throughout Europe, in championing a balance of interests in corporate governance and strong civic self-government with a deep partnership between universities, cities and firms. The question is whether being part of the EU hinders this. Britain is already outside the Eurozone and the Schengen agreement. It is gratuitous to remain part of a political union that is so hostile to diversity and democracy and so disposed to the consolidation of big capital that it has become a remorseless machine for the liberalisation of trade and the disintegration of society, in which the demand for liquidity has dissolved solidarity.

The defeat of Fascism, and the election of a majority Labour Government in 1945 was only possible because Labour had strong mainstream support among working class voters and organised labour. There was no serious Communist Party in Britain, and no serious fascist party either and the principle reason for this is that both were consistently defeated by Labour who maintained working class loyalty precisely because it was not an ideal or a set of principles, but an organisation that upheld the dignity of work and of working people and insisted that they had a constructive role to play in the governance of the country. Labour did not flirt with the popular front or the unity of progressive forces. It pursued a common good which included labour as an interest and as a source of value.

Regional Banks that are constrained to lend within a particular area are a necessary part of the institutional ecology in that they resist the centralising power of capital, allow a more stable access to credit for regional and smaller businesses and encourage relationships and reciprocity to constrain the demand for higher rates of return that have decimated the mutual bank sector in Britain. They also offer an alternative to usurious lending, one of the great growth areas in our economy. Any serious reflection on ‘employment policies’ must confront the centralisation of capital and the state and seek to constrain both through the endowment of decentralised regional and sectoral institutions that constrain centralisation and preserve and renew traditions of virtue within the economy through resisting the commodification of human beings, nature and knowledge demanded by the maximum return on investment. It allows initiative and enterprise to be oriented towards the future.