The right would argue something like it's a trojan horse for spreading socialism more widely, or a means of bashing the government with constant attacks based on exaggerating its problems, scaremongering over potential reform/privatisation etc.

But anyway, before you attack it - I'm not the one that came up with it - that was the leader of the Labour Party Ed Milliband! It caused a political storm at the time. Clearly the media, political classes etc. did not consider it complete nonsense or they wouldn't have taken it seriously - nor would the government been able to hammer Milliband/the left with it for years.