Keir Starmer has found a role in the war against trickle-down economics

The Labour leader finally has a clear purpose. His task at the party’s annual conference is to maximise his ideological advantage, writes John Rentoul

Keir Starmer and Rachel Reeves will aim towards prosperity for the many, not the few (Getty)

A year ago, Labour looked like “a party searching for a problem the country might want it to solve”, according to the Financial Times. The most important thing that has happened to Keir Starmer since then is that he has found one.

On the energy price crisis, Labour has led the way. From the start, as inflation surged, the opposition urged Rishi Sunak to do more to help people on low to middle incomes. And Labour proposed a windfall tax on the oil and gas companies to help pay for it, as world prices rose, even before the invasion of Ukraine in February.

As the crisis escalated, Sunak was forced to follow, announcing more help with energy bills in May, partly funded by a windfall tax. The world gas price continued to rise, and Starmer responded by proposing an energy price freeze. Wise heads said that it would be too expensive and would give taxpayers’ cash to people who didn’t need it. But it was easy to understand, and offered reassurance at a frightening time. So Liz Truss, while preparing to become prime minister, junked her free-market principles and adopted Labour’s policy.