Politics

Over on Foreign Policy magazine, Andrew J Bacevich and I are going at each other. Topic: the nature of the transatlantic relationship. In the slipstream of US Defence Secretary Robert Gates’ lament about Europeans’ pacifist leanings, Professor Bacevich wrote a delightfully provocative piece arguing the US should leave NATO: “If NATO has a future, it will find that future back where the alliance began: in Europe. NATO’s founding mission of guaranteeing the security of European democracies has lost none of its relevance. Although the Soviet threat has vanished, Russia remains. And Russia, even if no longer a military superpower, does not exactly qualify as a status quo country. The Kremlin

A striking passage from Peter Mandelson’s speech at Mansion House last night: “Starting in the 1980s we allowed the diversity of the British economy – or lack of it – to approach the limits of what was prudent. Sometimes there was an economic fatalism about manufacturing decline and falling British goods exports, rather than seeing them as something that policy and private enterprise should address. Our economy, and certainly our corporate tax base, became too dependent on the City. We were also carrying a huge hidden insurance liability for a sector that was taking badly understood and inadequately policed risks.” Yes, I know Mandelson takes things back to the 1980s

I wrote yesterday that Lord Ashcroft’s statement about his tax status should have drawn a “rather neat line under the issue”.  Sure, it’s hardly ideal that someone with such influence in our politics hasn’t been paying UK taxes on much of his wealth (something which could equally be said of Labour donors like Lord Paul and Lakshmi Mittal), and was keeping mysterious about it.  But at least, now, most of the uncertainty surrounding Ashcroft’s position has been removed.  And we have his indication that he will become a full UK taxpayer in due course.   But I hadn’t counted on the tenacity of Labour, who are trying to spin this

We are expecting at least one poll tonight, the YouGov tracker, and I think there will be one other. If these polls show the Tories ahead by six—a level that just last week was seen as rather disappointing—they will add to the sense that the Tories are over the worst of the wobble. Significantly, the Lord Ashcroft story, an irritating one for the party and particularly so today, is not being depicted as part of a Tories in crisis story. (One does wonder why Ashcroft didn’t choose to get the news out earlier after the Information Commissioner ruled at the beginning of February that the Cabinet Office should reveal what

Forget the polls, the markets should be enough to give any of us a sharp dose of The Fear.  Exhibit A: Sterling, which has slumped below $1.50 today, for the first time in nine months, and on the back of what analyists are calling “deficit worries”.  And Exhibit B: the UK Gilt markets, where rising interest rates suggest that investors are rapidly losing confidence in Britain’s ability to pay back its debt, just as Coffee House’s Mark Bathgate warned a few months back.  Check out the FT for the full story. Of course, I say “forget the the polls” – but this is all very poll-related.  The possiblity of a

Out of the conference hall, and back on to the campaign trail, it would nice to see the Tories talking about the things which make them ready for government.  In particular, William Hague should make a foreign policy speech setting out what ideas he has, and which would merit him being referred to as the likely “greatest foreign secretary in a generation” by David Cameron. Hague’s past foreign policy speeches have been solid, but unspectacular. He ticks off the likely issues, talks about global trends and looks knowledgeable about the crises that could emerge. But there is no overaching concept, such David Miliband’s idea of Britain as a “global hub”.