If you wanted any further confirmation of where New Labour took us, this news item (Former Labour Minister walked through revolving door to Olympic shambles firm G4S) should do the trick. Not only did John Reid defy any form of political ethics by running the Home Office and then taking up a directorship with a company that makes money out of contracts with the Home Office, but that company was G4S, whose level of incompetence rivals that shown by Reid as Health Minister when he gave British doctors a pay rise way higher than they had dared hope for. As a Director of G4S, Reid is presumably playing a role in extending the private security firm's feckless grip over more and more government functions which it performs inefficiently but profitably.
If there is anything in there which sounds at all principled or related however tangentially with the Labour and socialist tradition, then it is very well hidden. New Labour did a lot of good, but in the end it embraced, enhanced and entrenched the cynical money-grabbing culture left behind by the Thatcher and Major governments. What a missed opportunity.