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The Spectator's Notes

Charles Moore

Wednesday, 1st October 2008

Charles Moore's reflections on the week

David Cameron’s ‘statesmanlike’ promise on Tuesday to do whatever is necessary to save the nation and reach ‘across the aisle’, as they say in Congress, is one of the dirtiest and oldest political tricks, but no less effective for that. It is an offer which the government suffers from accepting or refusing. Two examples come to mind. One was Tony Blair’s shameless exploitation of the Dunblane massacre of schoolchildren when he was still leader of the opposition. He offered to be ‘united in grief’ with John Major at the ceremony in the town. Mr Major had to agree, and was then comprehensively upstaged. The more relevant comparison here is with Margaret Thatcher in January 1979. As the Winter of Discontent deepened, Mrs Thatcher was persuaded, very much against her instincts, to make a party political broadcast offering to set aside party differences in the interests of industrial peace. Luckily for her, Jim Callaghan, the then Prime Minister, was in no position to accept. But she suddenly moved in people’s minds from being a shrill, partisan figure to one who was fit to be Prime Minister.

Mr Cameron’s intervention also held out the prospect ‘for another day’ of trying to re-examine and regenerate the free-market economy. It was good that he said this, because the Conservative reluctance to engage with the subject indicates a guilty conscience which is not justified. The current world disaster is the result of markets rigged by some bankers, politicians and central bankers, not of a market working transparently and freely. Interesting, though, that Mr Cameron did not use the word ‘market’. He referred instead to our ‘free enterprise system’. One can see why. But it would be a great pity if the word ‘market’ became a negative in political discourse. A physical market is the clearest embodiment of the beautiful idea that people can co-operate, under rules, for mutual advantage. By the way, I think this week (the Today programme, Monday) marked the first time a Chancellor of the Exchequer has used the word ‘nationalisation’ favourably since about 1976.

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David Short

October 2nd, 2008 5:55pm

I think that Osborne and his leader and many others on the front bench suffer, not so much from resembling characters from teh ancien regime, as resembling the smooth-faced, worry-free, well-fed, well-housed, amply-funded bankers who caused these problems in the first place.

They certainly number them among their chums, and they would be foolish to suppose the electorate does not know it.

Minnie Ovens

October 5th, 2008 6:30pm

I have a feeling that the Conservatives had not a clue as to how to handle the crisis. But then, I don't anyone else either.
Nothing like joint ignorance to make oneself feel at home.
Having lived in the States for nearly thirty years it was interesting to see real democracy working in Congress. Both Congressmen and Senators were genuinely fearful of their electorate's reaction, especially so neat to an election.
It cares very favourably with Westminster who , nowadays, make no secret of their contempt and indifference to their electorate.
In turn Brussels does the same to Westminster.
It's really demeaning and aggravating to be so low on the pecking order in a so called "democracy".

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.

Diary

Anne Robinson

The daughter and I spent the last few days before the American election in Arizona.

Politics

Fraser Nelson

Fraser Nelson reviews the week in politics

The Spectator's Notes

Charles Moore

‘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.