The fact that we've, generally speaking, been travelling away from socialism doesn't mean that's guaranteed to continue now. The young have generally always been more to the left than their peers, yes, but in the last election we saw an even greater number of young people opting for Labour than usual because Labour were the party offering them policies that actually benefited them, something most political parties just hadn't been doing.
With the housing crisis and uncertainty surrounding jobs that'll come from increasing automation, this seems likely to continue. While I'm no fan of Thatcher and think her economic agenda has probably lead to a lot of the problems we're seeing today, you could at least argue that those who succeeded under capitalism genuinely succeeded, albeit at the expense of less fortunate people. But now that's not even necessarily the case - even lots of skilled university graduates are struggling to find reliable work or get onto the housing market. That's inevitably a major problem, because the perks of capitalism for the average worker are supposed to be...well, being able to own capital.
Austerity may have been implemented by the Tories but it was indicative of a wider political and economic agenda wherein rich bankers were able to break the rules and avoid punishment as a result, with poorer people punished instead to try and boost the economy. Austerity may have been implemented by a Tory government but Labour still bear some level of responsibility for the crash because their own deregulation of the banking sector and their willingness to completely placate big business at all costs didn't exactly help. This is only really sustainable for so long: at some people begin to push back. The argument capital will simply move abroad, again, doesn't really work for me; the rising inequality we're seeing just isn't sustainable for society in the long-term and we need to be building broad coalitions at an international level in order to address that. Simply saying there's nothing we can do about it isn't really good enough anymore.