Did you expect the parliamentary Labour party to be anything but the same old same old? As has been stated before, there are no real policy differences between Labour and the Tories. Just some culture war gloss.
The fact that the only way you can “demonstrate economic competence” in this country is by pledging to maintain the same economic policies that have abjectly failed for the last two decades is highly indicative of many things. None of them good.
Labour basically promising to be Cameron-era Tories. What even is the point of them these days?
https://www.theguardian.com/politics/2023/aug/27/rachel-reeves-rules-out-wealth-tax-if-labour-wins-next-election