As Osborne delivers his Autumn Statement today, a YouGov poll for the Sun finds his personal ratings have dropped from -3 to -8 over the last nine months. Optimism that the economy will improve is down from 39% to 25%, while pessimism is up from 23% to 32%. The Chancellor’s credibility will hardly be helped this afternoon when he announces OBR numbers confirming he has missed his deficit forecasts and that there is a £50 billion black hole in public finances, when in the same speech he pledges:

• £3 billion extra cash for the NHS
• £15 billion for road improvement infrastructure spending
• £400 million extra to the British Business Bank
• £500 million of new lending guaranteed
• No fresh cuts

Cynical Neo-Keynesianism nevertheless appears to be paying electoral dividends for the Conservatives, proving once again that voters prefer jam today to jam tomorrow. This generation of voters prefers to put the burden for its profligacy on the next generation…

The Times leader puts it plainly: “What is clear is that he has decided to risk what progress has been made towards repairing the nation’s finances on an electorally inspired spending spree that will have to be funded… at least partly with debt.” Douglas Carswell has a point when he says Osborne will today deliver Gordon Brown’s 18th Autumn Statement…