The book provides a clear assessment of the New Labour public policies and their outcomes in Britain under the leadership of Tony Blair and Gordon Brown from 1997–2009. Authors Florence Faucher-King and Patrick Le Galès argue that New Labour, in contrast to its European counterparts, developed a right-wing economic policy program based upon light financial regulation and strict macroeconomic management. Blair and Brown developed a large controlling bureaucracy, making Britain's government one of the most centralized in the world.

While some progressive policies were implemented, Faucher-King and Le Galès point to an overarching program of authoritative controls, massive surveillance, and illiberal social policies. Profound reforms were therefore linked to a new bureaucratic revolution that has subsequently been rejected by the British people. According to the authors, the financial crisis and the collapse of part of the banking system have signaled the end of the New Labour project.