Ed Miliband delivered a speech at the Festival Hall this morning. A couple of strategic issues emerged from it. The first
is that Labour has decided that the IMF is wrong:
“This Government is going too far and fast, hitting families and making it harder to reduce the deficit.”
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This is not altogether surprising. Ed Balls’ recent article in the News of the World suggested that Labour will attack on the cost of living and youth unemployment, both of which may serve to slow the rate at which the deficit is reduced. As Fraser noted yesterday, Labour is aided by rising inflation, which is deepening the effect of cuts. However, Labour is still yet to admit to its role in the crisis or reveal how it would cut the deficit.
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