At the end of June the Labour Party's Economic Policy Commission presented a consultation document called ‘A New Economic Future for Britain: Economic and Employment Opportunities for all’. This assessment of Labour's current policy position is based mainly on that report. It has benefited from discussion with representatives of the Institute's Corporate Members and with the Editorial Board of the Review, but the views expressed are my own. I look first at the general philosophy underlying the policy statement, and secondly at the specific proposals it contains.