November 14th, 2008

Gordon’s G20 Plan

Gordon is going to Washington with a few key spin objectives:

  • To present himself as the respected elder statesman of international finance – never mind Sarko’s pretensions.

  • To frame Britain’s problems in an international context. Sterling’s collapse is to be spun as nothing to do with Brown’s bubble.
  • To frame any domestic tax cut U-turn as a co-ordinated international action. This will give him cover for abandoning everything he has told us is important for all his front-bench political life.

Why Gordon thinks it imperative to be portrayed as some kind of respected international finance genius eludes Guido. It won’t save anyone’s job, not even his own.

There is obviously an international angle to the credit crunch, but there are also domestic disasters which happened on his watch.. Sterling’s collapse is not random. Who for instance decided to exclude house prices from the Bank of England’s inflation target which meant we had a ridiculously loose monetary policy?

If the G20 endorses a policy of tax cuts - if – Gordon will have political covering fire to return to Westminster to cut taxes and bugger the deficit. The Pre-Budget Report on Monday week will be his chance to unveil an epic tax-cutting stimulus package U-turn. The Osborne-Letwin* designed response as it stands will be “we shouldn’t be here, you shouldn’t do that”. Preaching fiscal sobriety to the fiscally hungover after the party has finished and the house is already wrecked.

The Tories have boxed themselves into holding to a Brown orthodoxy on tax cuts to which he himself no longer adheres. Time to think outside of the box…

*Letwin’s aversion to tax cuts might have something to do with the 2001 election campaign fiasco when as a junior finance spokesman, he was forced into hiding after disclosing that the Tories had longer-term plans for £20 billion of tax cuts.



Seen Elsewhere

Cam Can Sell Euroscepticism to Europe | Peter Oborne
Treasury’s Laws There to Be Broken | Jill Kirby
Dave’s Pro-Free Markets Speech | ASI
Forget the Nimbys, Bring on the Bimbys | ConHome
Emily is No Snob | Islington Tribune
Cam’s Red Line | Sun
Politicians Must Examine Their Extincts | Laura K
Immigration Lies | Nigel Farage
Take That Mr Speaker | Quentin Letts
How Avoidable Scandals Destroy Stupid Politicians | Alex Wickham
UKIP Mosque Confusion | The Week


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UKIP’s Patrick O’Flynn:

“I think Mail online comments are a telling indication of public opinion.”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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