The Labour party in its current central Statist, socialist, redistributative, forced equality of outcome mode is dead. It's dead in Northern Ireland and now dead in Scotland. It's dying in the old industrial north of England, has been wiped even from rural England's county towns and it can't be long before they die finally in Wales. It was a party that needed a wartime central command economy in which to thrive; all the while the party could keep Britain as it was in 1947, with all the strings pulled in Whitehall, Labour worked. And now as we finally resile from that wartime administrative mode, seventy years after the last shots were fired, Labour's time is over.
However, there is one chance for the party to survive and it doesn't involve shuffling along the left-right axis further toward or away from the centre. It means moving on the other axis - the one with 'authoritarian' at one end and 'libertarian' on the other. Labour is an authoritarian party, but what fits in the leafy multi-kitchens of Hampstead may not take well in Leith or Llandrindod Wells or Taunton. The entire UK outside the North Circular is fed up with Labour nannying, fed up with being hectored by a bunch of uber-correct metropolitan bien-pensants soiling themselves on a diet of pomegranite pips, Piketty and quinoa.
There was a libertarian socialist movement in the UK that started to take hold just as authoritarian State Labour killed it. It involved John Lewis mutualism, co-operatives, friendly societies, insurance societies, family venture capital, ethical trade and business, training and employment. It was the sort of libertarian socialism that Ralph Harris, founder of the IEA, knew well in the poverty of London's pre-State Welfare East End. It was socialism not hostile to business but to the exploitative capitalism of the global corporates, a socialism that didn't involve State ownership of the means of production - and would rather have shoes made on lasts in a local family cobblers works than by slaves in China. Above all it was the kind of socialism that just allowed ordinary people to live and work together profitably, look after each other, and advance and grow all without overweening interference from a prod-nosed State bureaucracy. And it was Localist. Libertarian socialists in Brixham didn't have to share the same priorities with libertarian socialists from Merthyr Tydfil.
Anything else for Labour now is just greed for power.