 In a keynote speech to the Labour Party Conference of 1980 , shortly before the resignation of party leader James Callaghan and election of Michael Foot as successor , Benn outlined what he envisaged the next Labour Government would do . " Within days " , a Labour Government would gain powers to nationalise industries , control capital and implement industrial democracy ; " within weeks " , all powers from Brussels would be returned to Westminster , and the House of Lords would be abolished by creating one thousand new peers and then abolishing the peerage . Benn received tumultuous applause . On 25 January 1981 , Roy Jenkins , David Owen , Shirley Williams and Bill Rodgers ( known collectively as the " Gang of Four " ) launched the Council for Social Democracy , which became the Social Democratic Party in March . The " Gang of Four " left the Labour Party because of what they perceived to be the influence of the Militant tendency and the Bennite " hard left " within the party . Benn was highly critical of the SDP , saying that " Britain has had SDP governments for the past 25 years . " 
