ItWillNeverWork
Messy Crimbobs, fellow humans.
Not a bit of it. Labour are authoritarian left. Admittedly their economic thinking -- the market can be harnessed to deliver left-wing ends -- is demented, but their preoccupations are those of the cultural left. 50% of school leavers railroaded into university, money thrown at the NHS, an ever-growing public sector, expansion of the EU's influence, punishing the (lower) middle class through the tax system, and so on.
Most strikingly, they're against selection by ability in our schools, continuing the thread begun by Crossland in The Future of Socialism.
Must say, the proposals -- abolition of tariffs, subsidies, abolition of certain health & safety laws -- sounds pretty laissez faire!
I think the issue that is important to understand is that certain state interventions favour capital, others favour labour. The so-called 'laissez faire' of most right-wing libertarians favours the abolition of those parts of the state that make capitalism bearable, such as the NHS, the welfare state. They do this at the same time as ignoring the state interventions that created and maintain the capitalist system. It's a case of laissez faire when it suits them.
My position is that the Capitalist system is made possible only when the state intervenes to maintain the power that large capital has over the rest of us. The act of market exchange, which was once a mutually beneficial process for the parties involved, has become a process of silent theft (what marxists would refer to as the extraction of surplus value). Without the power that capital gains through it's alliance to the state, this theft could not take place