‘Rishinomics’ could cost the Tories the next election

A truism is emerging that the Tories’ massive public spending has left Labour politically with nowhere to go. This quasi-social-democrat version of conservatism supposedly leaves all of the opposition’s attacks on the Tories blunted – if there’s a Conservative government spending big, what does Labour have to offer?

There is another way of looking at this, however. The current Chancellor’s spending plans could result in a perfect storm for Labour at the next election – a chance for Starmer to attack the Tories from both the left and the right. From the left, Labour can claim that they will spend money in a more ‘caring and thoughtful’ manner, something their audience is already geared to believe. From the soft right, Starmer’s pitch can be that he will be more efficient with the public’s money, meaning less borrowing and/or taxation in the long run. If Labour can get this bang on, they’ll win the next election.