Tory Deputy Chairman Declares Coalition Victory

Tory deputy chairman Sarah Newton has come out with the spin to end all by-election spin:

“It is good for the Coalition that the Coalition was able to retain the seat.”

A sure fire way to increase mutinous feeling among the Tory right even further this morning. If that’s the best they can come up with…

UPDATE: A Tory spokesman tells Guido:

“I think the Prime Minister’s response is the official response from the Conservative Party. This is a disappointing result. Obviously some people have their different ideas.”




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Quote of the Day

The FT’s Wolfgang Munchau on the “fake maths” of economic forecasts:

“The truth is that our ability to forecast the future beyond the current quarter is limited… The curse of our time is fake maths. Think of it as fake news for numerically literate intellectuals: it is the abuse of statistics and economic models to peddle one’s own political prejudice… The fakeness of the maths lies in an exaggerated inference. Economic models have their uses, as do opinion polls. They provide information to policymakers and markets. But nobody can see through the fog of the future.”

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