One of the most controversial figures Western politics has ever seen is returning to the White House.
With a fake tan job only a mother could love, to many he makes up for it with his lack of filter. Like when calling Kamala Harris “mentally impaired” and saying “somehow – a woman – is doing better than [President Joe Biden] did.” Or telling American-born congresswomen Ocasio-Cortez to “go back” to the “crime-infested places” where she came from.
To others, making misogynistic comments after a jury found him liable for sexual abuse, or suggesting Americans with particular ethnic backgrounds are the source of the country’s problems whilst Trump himself is presiding over 34 guilty charges of falsifying business records, there is a more sinister side to his remarks.
Those afar might be scratching their heads, but for the Americans the choice was clear. They were comfortable with his character flaws and criminal activity so long as there’s more money in the pockets of working people to come. They see a strong leader and the best candidate for the job.
His return, you’d think, will see a huge shift in economic policy coming hard and fast. A signal of revival for purist capitalism. Promises to boost the economy through a pro-business agenda, emphasising deregulation, tax cuts, and incentives for America industry.
Judging by his campaign messaging, government intervention in the name of social responsibility is likely to take a back seat. The replacement will be a renewed focus on the free market and private enterprise. This shift, if successful, could have ripple effects globally, particularly for Britain, where Keir Starmer’s Labour government may be pressured to either deliver success or risk a similar rightward swing.
What is Trump proposing?
Trump's economic policy proposals is a pro-business, deregulatory agenda.
It is likely to include large-scale tax cuts, a roll back of regulation for businesses, and renewed support for traditional industries. He claims to be a champion of the business community, and by doing so Trump has vowed to create jobs and stimulate economic growth by promising a reduction of corporate taxes, incentivise investment, and loosen labour and environmental regulations.
Regan-esque, some might say. The message is clear: in Trump’s America, the role of government will be to facilitate, not restrict, economic growth.
Key proposals include:
Mahoosive tax cuts: Trump has signalled his intention to reduce both corporate and income taxes, a measure he believes will spur business investment and create jobs. His administration argues that lower taxes leave more money in the hands of both consumers and corporations, driving economic expansion and benefiting the stock market.
Deregulation: Trump has repeatedly called environmental, labour, and financial regulations “burdensome” to businesses, blaming them for stifling growth. By cutting these restrictions, he aims to give industries - particularly energy, agriculture, and manufacturing - the freedom to operate more profitably. While critics warn of environmental and social consequences, Trump’s supporters see this as a necessary step to boost productivity and global competitiveness.
Trade Policy: Trump’s ‘America First’ rhetoric also includes a focus on bringing back American manufacturing jobs. He has promised to implement tariffs or trade barriers against countries he claims are “unfair competitors,” as he did during his first term. By attempting to reduce the trade deficit and bolster US-based manufacturing, Trump believes he can revitalise areas of the country that have suffered from deindustrialisation.
Traditional Energy: Unlike his predecessor’s focus on renewable energy, Trump has been vocal about supporting the oil, coal, and natural gas industries, which he sees as essential to American economic independence. Subsidies and favourable policies for these sectors are likely to continue, reflecting Trump’s belief that traditional energy is crucial to both US security and economic prosperity.
The End of Social Responsibility?
Trump’s return marks a clear departure from policies that many considered essential in addressing social inequalities and environmental challenges. In recent years, the US government has intervened in the economy with policies designed to promote social responsibility, from climate action initiatives to minimum wage hikes and expanded healthcare provisions. Trump will be having none of this.
Under his leadership, government intervention will be limited to measures that directly enhance economic growth. Programmes aimed at increasing social welfare, combating climate change, or expanding worker rights are expected to be slashed or deprioritised. He views this as “anti-business.”
In a sense, this approach signifies the return of capitalism in its purest form: an economy where private enterprise, not government, determines the course. Trump’s policies are poised to unleash free-market forces, even if it means scaling back protections that previous administrations deemed essential for a sustainable and equitable society.
A Warning for Starmer and Labour
Trump’s policy proposals resonate well beyond the borders of the United States, and the UK is poised to be particularly affected. We catch a cold when they sneeze, after all.
For Keir Starmer and the Labour government, the challenge is to prove that a balance between economic growth and social responsibility is possible. Starmer has campaigned on a platform that combines fiscal responsibility with progressive policies, pledging to support workers, improve healthcare, and transition toward a green economy.
…but the stakes are high. If he fails to deliver a tangible improvement in living standards or an effective economic program, the UK could follow the American lead and turn toward free-market capitalism.
Starmer faces a delicate balancing act: he must reassure the business community that Labour is not anti-business, while also fulfilling his promises to voters who want stronger protections for workers, investments in public services, and meaningful climate action. A strong economy is essential for any government to maintain power, but if Labour stumbles - whether through policy missteps or economic stagnation - there’s a very real possibility that the UK electorate could shift back to the right in search of a more market-driven approach.
A Critical Moment for the Left
This all has a historic feel. Trump’s win has shown that, even in polarised times, a strong message of unregulated capitalism can inspire voters. For the Labour Party, this is a wake-up call.
For progressive thinkers, Keir Starmer is all that's left. His success or failure in delivering his vision will shape the future of the UK.
The question remains: can he adapt, deliver, and keep Britain on a path that balances economic growth with social responsibility, or will he cede ground to the forces of resurgent capitalism that Trump’s return represents?
If the modest forecasts of economic growth are to be believed, Nigel Farage getting the keys to 10 Downing Street might be a half-decent bet.
I’d certainly hesitate betting against it, put it that way.
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