Andrew Marr: British politics is broken – the centre cannot hold: After the fall of the Conservatives, New Labour, far from searching for a reverse gear, bolstered the power of financial markets. That government deployed (and boasted of) light-touch regulation, gave new powers to the Bank of England, brought in private consultancies to Whitehall (and watched benignly as former civil servants went to work for the big banks and private corporations) and used PFIs to raise capital for its favoured projects. This allowed an avowedly left-of-centre government to keep the money flowing and the financial markets happy, while rebuilding tattered schools and opening new hospitals.
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