The Cameron era has begun

10 October 2009

Power, or the expectation of it, has a transformative effect on political parties.

Power, or the expectation of it, has a transformative effect on political parties. It was draining from the Labour party at its conference in Brighton last week, just as obviously as it was rushing towards the Conservatives in Manchester this week. Gordon Brown sounded angry and shrill, saying nothing about how he would tackle the deficit. His was a strategy for opposition. The Conservatives provided leadership — talking about public sector pay freezes. They were listened to with the respect afforded a government-in-waiting. This was the objective of the conference, and it was clearly achieved.

What we learned in Manchester, primarily, was the way in which a Conservative government will set about remedying the public finances. George Osborne made clear that the perception of his cuts agenda is crucial to its success. The slogan ‘we’re all in this together’ has become a fiscal strategy: whatever happens must be seen to be fair. The rich must be seen to suffer, as the axe is wielded elsewhere. Without popular support, Mr Osborne believes, the government will not be able to tackle the deficit.

There is something to be said for this strategy. But there is nothing to be said for Mr Osborne’s lazy decision to adopt Mr Brown’s 50p tax on the super-rich. Such is the emphasis on the political attractions of this tax that it is unlikely that the Conservatives have done proper research on just how much money it will lose. Had Mr Osborne found his own way of hitting the rich — rather than simply copying Labour’s ruse — he would have demonstrated fairness and raised money. His failure to do so represents a missed opportunity. If the rich leave in the numbers that recent data suggests they will, then it could be the Conservatives’ single most expensive policy failure.

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