Tuesday, 18th November 2008

Osborne delivers a clear Tory message

Peter Hoskin 11:33am

This from George Osborne, speaking on the Beeb just now:

"Spending restraint under Conservatives, tax rises under Labour"

This bluntly effective message - that Brown's tax-cuts-now translate to tax-rises-in-future - is perhaps that best chance the Tories have to set the economic narrative.

Hat-tip: Politics Home

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luke

November 18th, 2008 11:44am Report this comment

The trouble is - the weight of opinion globally (albeit not a consensus) is that the restraint osborne promises will create a longer and deeper recession.

You can disagree with that.

But you have to recognise that the weight of opinion now, from leading economists around the world, is that a fiscal stimulus is probably the right answer.

I think the problem for the tories is they think the political question is tax now/ tax later/ spend what - when really the reason osborne is being creamed at the moment is he is seen to not know his own mind, not understand the issues, not the person to steer the right course.

All terribly unfair, I'm sure. But I cannot help but think that he is fighting the wrong battle. This isnt about tax or spend - its more basic than that - its about a plan to bring the economy out of recession.

Short the UK

November 18th, 2008 12:14pm Report this comment

The Tories should start asking questions about the bank bail-out.

The shares are sinking very badly.

Will they have to be fully nationalised or put into receivership as Willem Buiter thinks probable.

Will we get a run on GBP, Banks and Gilts.

Attack!!!!!!!!

mckenzie

November 18th, 2008 12:15pm Report this comment

Follow the money, and you will see that the new paradigm is that all roads lead away from Rome!
Looking down from the big picture at our once great nation is a sad experience. The flames are raging out of control and the people are running to and fro with thimbles half full of mist.

True Bred Pomponian

November 18th, 2008 12:32pm Report this comment

Right on the button.

Tiberius

November 18th, 2008 12:35pm Report this comment

The trouble surely is, luke, the size of Britain's debt (in aggregate) compared to other countries.

In such unchartered territory, the fear that bonds become unsaleable cannot be laughed off. Deep devaluation and the IMF then loom.

Brown's solution is economically dangerous - the politics is a different issue.

Punk Economist

November 18th, 2008 1:17pm Report this comment

There's a pattern emerging here:

2007: Brown has a storming start to his premiership; Tories flannel and lose their lead in the polls; Cameron & Osborne do a U-turn and make right-wing tax-cutting speeches; Tories recover in opinion polls.

2008: Brown has a 'good crash'; Tories flannel and lose their opinion poll lead; Cameron & Osborne do a U-Turn and make right-wing tax-cutting speeches.

If the Tory lead is now restored, do you think that Cameron & Osborne will actually, for once, get the message?