Heading for another fall

Even with the sharp political mind of Peter Mandelson on his team, it is possible that Gordon Brown failed to foresee one political consequence of his scheme to borrow and spend his way out of the recession. How can the government complain about tax cuts proposed by the opposition when the government has itself abandoned all pretence to fiscal rectitude? A few months ago, ministers would have responded swiftly and savagely to David Cameron’s promise to free all basic-rate taxpayers from paying tax on their savings income.