The Labour Party remained a democratic socialist party under Blair's leadership. However, following Blair's successful effort to modify Clause IV of the Labour Party constitution, the Labour Party is no longer committed to widespread nationalisation and common ownership of the means of production. The current version of Clause IV limits the requirements of socialism to building "a community in which power, wealth and opportunity are in the hands of the many, not the few..." | The Labour Party remained a democratic socialist party under Blair's leadership. However, following Blair's successful effort to modify Clause IV of the Labour Party constitution, the Labour Party is no longer committed to widespread nationalisation and common ownership of the means of production. The current version of Clause IV limits the requirements of socialism to building "a community in which power, wealth and opportunity are in the hands of the many, not the few..." |