If they hadn’t bottled it in their final poll on the eve of the election, YouGov would have been one of just two pollsters – along with Survation - to correctly predict the outcome of the general election. So we should pay some attention to YouGov's recent poll too, which found 43 per cent of the British public agree that a socialist government would make Britain a better place to live, compared to just 36 per cent who thought the opposite.

When Jeremy Corbyn was elected leader of the Labour Party in 2015, mainstream political commentators, Labour activists and MPs had serious reservations, predicated on the understanding that in order to be “electable”, Labour has to accept the economic assumptions of Thatcherism. For some, 1983 still lived long in the memory.

In 1997, when the economic consensus was, for most people, delivering housing, rising wages, investment and economic growth, the perception that electability hinged on ameliorating rather than transforming the economy was a logical conclusion to draw. However, since the financial crisis of 2008, our economy and wages have stagnated, there is a housing crisis, a scarcity of high-skilled jobs, household debt is out of control, and our public services are at breaking point.

UK news in pictures Show all 50 1 /50 UK news in pictures UK news in pictures 18 September 2020 A model presents a creation during the Bora Aksu catwalk show at London Fashion Week 2020 Reuters UK news in pictures 17 September 2020 World kickboxing champion Carl Thomas during his attempt to run a marathon while pulling a plane at Elvington Airfield near York. 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PA UK news in pictures 16 August Wasp players take a knee as Northampton Saints stand prior to kick-off in their Premiership match at Franklin's Gardens PA UK news in pictures 15 August Piper Colour Sergeant Lil Bahadur Gurung attends the VJ Day National Remembrance event, held at the National Memorial Arboretum in Staffordshire, Britain Reuters UK news in pictures 14 August People including students hold placards on Whitehall outside Downing Street as they protest against the downgrading of A-level results. The government faced criticism after education officials downgraded more than a third of pupils' final grades in a system devised after the coronavirus pandemic led to cancelled exams yes AFP via Getty UK news in pictures 13 August Benita Stipp (centre) and Mimi Ferguson (left) react as students at Norwich School receive their A-Level results PA UK news in pictures 12 August 2020 A train derailment near Stonehaven has left three people dead. 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Where Labour adapted to the economic reality of 1997, so it has now adapted to the economic reality of 2017. The context has changed: Jeremy Corbyn and those that elected him leader, recognise this. Jeremy Corbyn’s supporters are now the true modernisers in the Labour Party. They understand that when the status quo is not delivering for the vast majority of people, political parties must impart a transformational offer to the electorate. One reason why Stronger In, the campaign to Remain in the EU, failed is because it focused too much on the threat Brexit posed to the status quo. This argument does not cut through to those for whom the status quo is no longer delivering, which is now a huge proportion of the electorate.

Theresa May’s speech on the steps of Number 10 suggested that she understood this, but the Conservatives are in a much weaker position than Labour as their transformational offer boils down to Brexit alone. This is why they wanted to shift the focus back to the Brexit negotiations at every opportunity during the general election campaign.

Many who voted Leave did so because they wanted to change the system, and most Leave voters, in turn, backed the Conservatives at the last general election. But in two years’ time, when the negotiations are set to conclude, the Conservatives will be left with a void in their transformational offer.

Jeremy Corbyn gives a speech at Glastonbury Festival

Having defined themselves against austerity for the past seven years, which was effective politics but rubbish economics, the general election campaign revealed the extent to which the Conservatives are struggling to articulate what they are in favour of beyond leaving the European Union. Commentators were scrambling around trying to define “Mayism” after her manifesto launch, but nothing coherent emerged from it.

By contrast, Labour’s transformational offer is clear, their manifesto was extremely popular, and support for the party is growing. Despite two years of ridicule from the mainstream commentariat, Labour are five points ahead of the Conservatives, and Jeremy Corbyn’s supporters are vindicated in the analysis that led them to want to take the Labour Party in a different direction.

It’s no coincidence that the appeal of candidates and political parties that want to depart from the status quo is accelerating in countries that were worst hit by the financial crisis, the consequences of which we are still living with today. Jeremy Corbyn’s consistency means he is able to make the case for transforming our economy convincingly, while the Conservatives risk re-toxifying their brand by entering into a deal with the DUP.

By doing so, they have completed the unenviable task of undermining their key messages. Their promise of strong and stable government has been undermined by their loss of a majority, and the fact that they have had to ditch so many of the key policies, as shown in the Queen’s Speech. Their threat of a coalition of chaos has been undermined by entering into one of their very own, and talk of Labour’s “magic money tree” appears to have dissipated, having found £1bn to bung the DUP.