So what do you reckon Prime Minister Gordon Brown will get up to when - if - he becomes Prime Minister.
Well, Ernst & Young's Item Club have been brave enough to take a stab at it.
A Brown government is unlikely to take the "New" out of Labour economic policy, says Item. But we will see substantial differences over rhetoric, taxes and pension policy.
Item forecasts that under a Brown administration government spending as a percentage of GDP, which was at a recent low of 37 per cent in 2000, will rise from the current 42 per cent to over 45 per cent by the time of the next election.
So more taxes on business. Peter Spencer, chief economic adviser to the Item Club, believes a Brown premiership will lead to a greater prominence for the State.
He noted: "Brown is by nature more statist and less reliant on market forces, even whilst acknowledging the need for partnerships with the private sector."
So, while "New" Labour won't be abolished, there'll be a greater emphasis on "Old".
But such a philosophy only appears to relate to Westminster.
Mr Spencer noted: " Conversely, in his debates with the European Commission and the European Parliament, Brown has been consistently opposed to the extension of Brussels regulation and rigorous in his defence of what he perceives as the UK's economic interest. A Brown government is also likely to defer any UK accession to the euro for at least one Parliament."
If there is a euro by then.
While a Brown leadership would not see a major shift in political terms, the economic prosperity that the UK has enjoyed since 1997 has tended to obscure the differences in ideology and political practice between Blair and Brown, Item claims. Falling unemployment and rising house prices have glossed over the tax rises on Middle England that Blair would otherwise have had difficulty swallowing.
But life might be harder for Brown in this Parliament.
Forecasters have identified holes in the public finances in this economic cycle, which the Treasury's alleged overoptimistic tax receipt projections will not plug.
" Blair is instinctively someone who prefers cutting expenditure in such a situation," said Mr Spencer.
" Brown, despite his attempts to trim the civil service, is not.
"Tax increases, potentially hypothecated towards health and education, are a far more likely prospect under his leadership."
The one area where a Brown government would differ with his predecessor is over pensions, it is suggested.
Blair appears to favour rapid reform and private sector involvement in a more radical overhaul of the pensions system.
Brown would keep the state at the heart of pension provision and has already said how important a goal it is for him to help society's most vulnerable and eradicate pensioner poverty.
Compared to the 1970s and 1980s, any transfer of power from Blair to Brown is likely to be relatively smooth in economic terms, claims Item.
But don't hold your breath.