Arguably, I would say this has been a 50+ year-long project starting in the Reagan/Thatcher era that Clinton/Blair fully realized by ushering in de-regulatory, labor-disempowering neoliberal policies as part of the left political flank. There's been a lot written about this:
I dislike the phrase neoliberal (its badly defined). I would argue that Blair (and Brown and Cameron etc.) was a lot worse than Thatcher because Thatcher did want competitive markets, whereas more recently its just been "business friendly" which is quite the opposite.
https://jacobin.com/2026/09/labour-callaghan-neoliberalism-m...
https://dissentmagazine.org/article/the-legacy-of-the-clinto...
https://sk.sagepub.com/hnbk/edvol/the-sage-handbook-of-neoli...