To what extent are the current ideas of the Labour Party and the Conservative Party similar and different?

To what extent are the current ideas of the Labour and Conservative parties different?

The Labour and Conservative parties have always been on separate ends of the spectrum, presenting (generally) conflicting and converse ideas to each other - Labour supporting socialism, the welfare state and representing the  working class, whereas the Conservatives supporting capitalism, promoting a free market, and representing the middle and upper classes. 

Nonetheless, in more recent years similar policies can be identified from the two parties, especially where Millibands Labour had, in a way, accepted capitalism, and the conservatives have modernized to appeal to the younger generation, so it could be argued that during this time a more of consensus politics materialized,  such as Conservatives proposition ensure those working 30 hours on the minimum wage to not have to pay income tax, Labour supporting that EU migrants not being able to claim benefits until they have lived in the UK for at least 2 years, and both parties supporting gay marriage, which was passed by the Conservatives in 2014, and is now legal across America as of 2015.

The final similarities can be identified through both parties stance on ISIS- and it isn't even just the 2 political parties who acknowledge this, countries such as Russia and China have agreed on such facts, possibly stemming from President Xi Jinpings' visit to the UK during the last week of October.
David Cameron also stated that the 'world is coming together' to fight agaisnt the Islamic State, following meetings this week. The french president,President Francois Hollande, will then go to Russia for similar talks with President Vladimir Putin

However, as Corbyn has been appointed to the head of the opposition, and as a keen supporter of socialism, the differences between the parties has grown. 

Firstly, Corbyn firmly believes in the abolishment of Trident, the UKs nuclear deterrent system, costing around £2 to £2.4 billion each year, which is around 5-6% of the defense budget, whereas Cameron continues to support Trident. 

Secondly, Cameron has accepted the divide within his party and the country with response to the proposition to leave the EU, and has therefore assured the country a referendum on such before 2020, whilst the labour party remains united against the decision to leave the European Union. 

A final difference between the two parties is their stances on taxation. The Conservatives want to raise personal allowance to £12,500 and 40% tax threshold to £50.000, increase inheritance tax threshold for married couples and civil partners to £1 million, and not to raise VAT or National Insurance contributions. 

Labour, on the other hand, plan to re-introduce the 50% top tax rate for people earning over £150,000, and the 10% starting rate. They also support no rise in VAT, but want to introduce a mansion tax for houses worth over £2 million. 

To conclude, it can be argued that under Millibands Labour was the time when the two parties created more consensus politics then adversarial politics, but it is clear that as Corbyn continues to develop himself as the leader of the Labour party and leader of the opposition, the patties will again part ways and return to opposite ends of the spectrum,.