It was Cameron-Osborne’s biggest and loneliest decision: The decision to oppose Labour’s plans to borrow and spend Britain’s way out of recession. When the Tory leadership team took the decision they were first big political party in the world to step away from the herd.
It’s a decision that doesn’t look so lonely today. America’s Republicans – albeit for mixed reasons – are opposing Barack Obama’s stimulus. As reported on ConservativeInternational, Australia’s Liberals are now stimulus-sceptic too. I think Angela Merkel and Stephen Harper would have been less willing to support a stimulus if they weren’t leading minority governments. Harper has certainly enraged his Canadian Conservative base for having done so.
When the Angry Right accuses David Cameron of leading Britain towards socialism they should reflect on this big Tory call. It’s true that we still need much, much tougher control of public spending from the Conservatives but their fiscally conservative instincts are strong.
10.15am: "Paris rejects ‘Obama-style’ stimulus program" (International Herald Tribune).