For much of his time as Chancellor, it’s been hard not to feel sorry for Alistair Darling. He’s been parachuted into what are rocky economic times, and has had to deal with – and often reverse – decisions made during Brown’s Chancellorship.
The recent stamp duty fiasco seems different though. It was embarrassing enough that the idea of temporarily suspending stamp duty leaked from the Treasury in the first place (usually a sign of a minister not in control of his department). But the uncertain response of Treasury officials – and Darling himself – has only compounded the situation. How so? Well, potential house-buyers have held back from purchases until the stamp duty situation is resolved. Obviously this has damaged, rather than revitalised, the market.
The latest is that Darling has cooled on the idea of a stamp duty holiday. But, in the absence of an official announcement, the uncertainty remains, and Labour MPs are starting to voice their disgruntlement with the Chancellor.
Of course, that disgruntlement may be unfair – the indecision may have originated from No10. But I doubt that will prevent Brown’s anger over the situation. The much-vaunted economic plan is now blemished from the outset. And – after the recent reshuffle speculation – our Chancellor’s position is starting to look a little more precarious.
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