Whither the moderates in politically divided Britain?

While French President Emmanuel Macron, 39, and German Chancellor Angela Merkel, 63, have generally embraced centrist politics, Britain, under the leadership of Prime Minister Theresa May, 61, has grown increasingly unstable since its general election in June.
This can be attributed to infighting over Brexit and the rise of extremist socialism reminiscent of the 1970s. These two trends have complexly intertwined, throwing British politics into a state of uncertainty.
British Foreign Secretary Boris Johnson told the Conservative Party conference on October 3 in Manchester: “How crazy it is that a quarter of a century after the working people of these former Soviet bloc countries risked their lives to throw off the shackles of socialism ... the shadow leader and shadow chancellor are seriously proposing to put the British people back in bondage.” Johnson’s fierce criticism of opposition Labour Party leader Jeremy Corbyn won a standing ovation from the audience. 
In the June election, Corbyn pledged to renationalise Britain’s railways, electric power, postal service and other public services privatised since the administration of Prime Minister Margaret Thatcher in the 1980s. He also promised to make university tuition free. Although such policies have been criticised as “handout populism”, they have won support from young people disenchanted with post-financial crisis fiscal austerity who never experienced the economic stagnation of the 1970s. The Conservatives under May suffered a surprise setback as they lost their House of Commons majority. 
Capitalism versus socialism. This ideological paradigm, which had largely become a relic of the past following the Thatcher era and end of the Cold War, made a comeback at the Conservative and Labour party conventions this autumn. Speakers at the Conservative Party convention preached the merits of deregulation and the market economy while the Labour Party convention emphasised distrust for competition-based policies and entrusting public services to private entities.
However, neither party clarified how these positions relate to Britain’s exit from the European Union, the most pressing issue facing the country.
While the Conservative Party is united in its opposition to socialism, it is divided between those taking a hardline stance on Brexit, like Johnson, and those weighing a dialogue-oriented approach, like May. The extent to which each faction prioritises “sovereignty” underpins this schism.
The Labour Party is likewise divided on its views of the EU. Many workers are employed at factories that export products to the EU or are involved in agricultural activities dependent on EU consumption.
On the other hand, there are party members who are hostile toward the EU, claiming it favours capitalism and private companies.
Professor Matt Qvortrup of Coventry University, who specialises in populism and national referendums, says there are currently four political camps in Britain. The Conservative and Labour parties both have moderate factions who are at odds with their respective parties’ hardliners. If such moderates join forces and unite with independents, a broad coalition of centrists could emerge, as happened in France and Germany, Qvortrup suggests.
“Referendums can have a negative [impact]. If it is an issue that is all-consuming, it can have the effect of dividing the country down the middle. But at the same time ... it leads to new alliances,” he said. “In the Brexit referendum, some moderate Labour people were working with moderate Conservatives. And some far left people were working with far right conservatives.”
Qvortrup, however, believes the absence of a strong leader like Thatcher or former Prime Minister Tony Blair complicates efforts to unify moderates.
How can Britain come to terms with Brexit amid the revived debate over capitalism and socialism? The loss of direction in Britain, a bastion of conservatism, will continue to influence stability in Europe.