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Two years ago, The Economist and the ICA hosted a pre-election debate, asking whether the New Labour 'Project' was a coherent ideology, the expression of a new managerial consensus, or simply a mask for electoral opportunism. Half way through its second term, New Labour boasts the most successful economy in Europe. But it's criticised for its failure to improve public services, its populist excesses in criminal justice, and for being anti-democratic in both form and content. More conservative than the Conservatives? Or addicted to statism, control and regulation? Can The Project move forward and resolve its contradictions? Tonight's speakers are Ed Balls, Chief Economic Adviser to the Treasury; Clive Crook, Deputy Editor of The Economist and Nick Cohen, Observer columnist. In the chair is Emma Duncan, Britain Editor, The Economist.