Philip Hammond’s speech showed quite how insecure the Conservatives are feeling about themselves at the moment. The Chancellor was trying to defend the Tories on their more traditional ground, giving a hug-a-business speech designed to counter both Boris Johnson’s ‘f*** business’ line and the fears expressed by ministers and donors that the party has forgotten how to talk to the private sector.
He was also on the defensive after acknowledging that the Labour Party has tapped in to a genuine feeling of frustration among voters, but instead of trying to match the Opposition’s narrative, he decided to pitch the Conservatives as the party of realism. He said:
‘But let me be clear about one thing: while Labour’s answers will solve nothing, their questions deserve a response. And we must answer their challenges with our own, Conservative solutions based on realism, not populism, delivery, not rhetoric.
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