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Updated:Apr 23, 2026
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New Labour's Third Way economic program in the United Kingdom (1994–2007)

New Labour's Third Way economic program in the United Kingdom (1994–2007)

  1. Tony Blair becomes Labour leader, pushes modernization

    Labels: Tony Blair, Labour Party
  2. Labour wins the 1997 general election

    Labels: 1997 General, Tony Blair
  3. Government grants Bank of England rate-setting independence

    Labels: Bank of, Gordon Brown
  4. Treasury sets up a central PFI Taskforce

    Labels: PFI Taskforce, Treasury
  5. New Deal welfare-to-work programme launches nationally

    Labels: New Deal, Welfare-to-Work
  6. Bank of England Act takes effect, formalizing independence

    Labels: Bank of, Monetary Policy
  7. National Minimum Wage Act receives Royal Assent

    Labels: National Minimum, Parliament
  8. Blair publishes Fabian pamphlet on the Third Way

    Labels: Tony Blair, Fabian Society
  9. National minimum wage comes into force

    Labels: National Minimum, Labour Market
  10. Employment Relations Act strengthens workplace rights

    Labels: Employment Relations, Fairness at
  11. Working Families’ Tax Credit begins

    Labels: Working Families', Welfare Reform
  12. Partnerships UK created to expand PPP capability

    Labels: Partnerships UK, PPP
  13. Working and Child Tax Credits introduced system-wide

    Labels: Tax Credits, Child Tax
  14. Blair resigns, ending the 1997–2007 era

    Labels: Tony Blair, Gordon Brown