Transform Politics is the name of a new group looking to form a fresh left-wing party in the UK. It’s made up of individuals and pre-existing parties – and it’s launched its campaign with a flurry of interest on social media, as well as some criticism.
No left leaning party can do what UKIP did because UKIP threatened Labour as well as Tory seats. They were a single issue party and could run as MEPs which gave them another soapbox to shout from. There just isn’t an issue that has the same kind of cross-partisan reach yet.
I think abolition of the monarchy will be that issue in 10-15 years time. Once the older Christian conservative voters die off there will be a stronger push to move to a republic. It’s something that a single issue party could run on and steal votes from the dominant parties.