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Once upon a time Labour believed in Government ownership of the means of production. That means state ownership of mines, factories, and major industries. In response to Maggie Thatcher's several successful runs, Labour deleted that plank from their platform, under the leadership of Tony Blair. The election seemed to be mostly about whether Maggie was out of touch with the commoners after many many years in Number 10 Downing St.

There still are some unreformed socialists on the Labour team, but as a whole, the state ownership was tried and found wanting. Labour is now more centrist Democratic Socialists. They have the additional wiggle of appointing tons of "sit there for life" peers to their House of Lords, as payment for services rendered to various civil servants.

Tories are the Conservative Party, and would limit peerage to people who perform services to the Crown, think generals instead of career social workers. The Tories tend to think that people should work for part of their life.

With regards to the EU, Tories would keep the pound and remain soverign, and Labour would hand over monetary policy to France and Germany. Tories would also keep the UK-US and commonwealth special relationships, Labour would build counter vailing relationships with the European Continent.

Volumes have been written. Above comes from a short lunchtime chat with a UK engineer on a visit.