What the papers say: Don’t be fooled by Corbyn’s ‘socialist snake-oil’

Finally, Theresa May has – in her speech marking the Bank of England’s independence – offered the defence of capitalism ‘that the country has been waiting to hear’, says the Daily Telegraph. It’s about time, argues the paper, which accuses Jeremy Corbyn of ‘selling a vision of socialism’ to an audience too young to remember the ‘grim’ seventies. This makes it vital that the Tories fight back. The ‘intellectual case’ for capitalism is an ‘easy’ one for the party to make. But what about the moral argument? Margaret Thatcher spoke with a ‘deep confidence’ in the free market. And while it’s true that May is no Thatcher, our current PM could still learn a thing or two from her predecessor. May talks of ‘ a free market combined with sensible regulation’. But ‘pushed too far’, this argument is in danger of undermining itself, the Telegraph says. Yet despite these reservations, the Telegraph is full of praise for the PM making the case for capitalism.