So says Ben Brogan. Good to see us (finally) getting ahead of Labour on this one.
The Tory Treasury team believes that there is now real possibility for party unity. They were encouraged that the ConHome poll of members rejected tax cuts funded by borrowing. Much more important than that, the party believes that Labour could get itself into real trouble with voters if it takes the country even further into the red. Polls and focus groups are suggesting that swing voters are very worried about the debts that Labour are building up. The message of David Cameron’s News of the World article – LABOUR HAS MAXED OUT BRITAIN’S CREDIT CARD – will now be centre stage in the Tory strategy.
George Osborne writes for tomorrow’s FT setting out what global leaders must do at their forthcoming summit. He highlights six areas for action:
- Relaxed monetary policy must be the "principal tool for stimulating demand";
- There must be improved international regulation;
- A stronger role for the IMF with more heed paid to its warnings;
- "Colleges of regulators" to oversee, for example, credit rating agencies;
- Some supportive use of fiscal policy;
- Including use of automatic stabilisers – but no unfunded tax cuts that add to the structural deficit.