This paper first examines the New Labour government's redefinition of equality of opportunity in Britain, mainly with regard to education and the ways in which it mediates ‘opportunity’. In doing so, it also draws on wider social policy issues, such as the use of education policies to combat social exclusion. Second, the paper reviews European Union policies and selected documents that address questions of social inclusion, social cohesion and the role of education in achieving those policy goals. The main argument is that both New Labour policies in Britain and the examined EU documents promote rather minimal understandings of the term ‘equality of opportunity’, while, education, in both cases, is given an enormous burden to carry in balancing increasingly liberalised market‐driven economies, with the requirements of a socially just society.