A Labour Party without the SDP and with David Owen taking over from Callaghan in the '80s could lead us down that route (perhaps a Whitelaw government from '79 to '83/'84 would help this along). At least, that's the most popular scenario when people think of UK Labour implementing neoliberal reforms. But, the left-wing surge of the '70s - the rise of Bennism, the election of Michael Foot, Militant, etc. - can't be handwaved away so easily. Benn and his followers would fight tooth and nail against the introduction of neoliberalism, so it's more likely to be a left-wing response to the crisis in the '80s.Any chance that Rogernomics could be done by the left-wing party in another country like the UK or Canada? Also on that-somebody should make a TL where Reaganomics and the main neoliberal reforms in the US are done by the left, Bill Clinton, while he added to it with welfare reform, deregulation and 'triangulation', was only a symptom of the already conservative era.
What such a TL would need is a POD earlier in the 1970s that could cut the groundswell of left-wing support for Labour and keep the membership onside for the party leadership.
(Apologies for this aside)