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Leading Article

Change must still be the message

Wednesday, 5th September 2007

The great paradox of the Tory party is that its predicament in recent years reflects not failure, but success.

The great paradox of the Tory party is that its predicament in recent years reflects not failure, but success. For 18 years it was in government, for 11 of them under one of the most influential prime ministers in history. The Conservatives dominated the 20th century: Austen Chamberlain and William Hague were the only two party leaders in those triumphant 100 years not to reach No. 10. So it is scarcely surprising that the Tory movement, in its DNA, believes the default position in this country to be a Conservative government.

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A child of our time

From the economic and psychological bedlam of the global downturn has emerged a particularly dangerous false dichotomy: namely, that there is somehow a choice for ministers over the next few years between economic reconstruction and the repair of Britain’s broken society, and that the government (whether Labour or Conservative) must prioritise the former at the expense of the latter.

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The Spectator's Notes

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‘A money-financed tax cut is essentially equivalent to Milton Friedman’s famous “helicopter drop” of money.’ So said Ben Bernanke, now the chairman of the Fed, in a speech about how to ward off the ‘extremely small’ chance of deflation, which he delivered in 2002.