Starmer’s speech is over and the snap verdicts from the commentariat are in. Guido brings you a roundup…
The Independent’s Economics Editor Ben Chu branded Sir Keir’s main policy – a new ‘recovery bond’ as “meaningless“.
Will need to see details but Keir Starmer's "British recovery bond" idea, on the face of it, raises the same question as Rishi Sunak's "green gilt": how is it different from a regular government bond?— Ben Chu (@BenChu_) February 18, 2021
If the proceeds aren't hypothecated for specific projects it's meaningless
The Guardian’s Jess Elgot noted that the set piece policy has already been called for by “Thatcher’s favourite think-tank the CPS”
As my great colleague @RJPartington pointed out though, Starmer's idea is similar to that of Margaret Thatcher's favourite think-tank the CPS which mooted a Northern Recovery Bond recently on same lines...— Jessica Elgot (@jessicaelgot) February 18, 2021
The Mail on Sunday’s Dan Hodges calls the main attack over the economy not credible
This is the problem. This line of attack isn’t credible. “The Tories didn’t build an economy that could easily absorb the shock of a once in a century global pandemic”. https://t.co/qyWCCVf4fD— (((Dan Hodges))) (@DPJHodges) February 18, 2021
The Telegraph’s Tony Diver said it all sounded quite Tory…
Two new ideas from Starmer - the Recovery Bond and more startup loans.— Tony Diver (@Tony_Diver) February 18, 2021
Problem is they both amount to spending much more money on Tory policies (Startup Loans Scheme and Rishi's NIB).
Suspect that may weaken the argument that Tory economic policies have been rubbish since 2010.
Meanwhile the left have decided that Starmer’s speech offered nothing new, and was sincerely lacking. Just hot air…
If you are going to compare yourself to 1940 and Beveridge Report you can’t just bring a diagnosis but also solutions.— Aaron Bastani (@AaronBastani) February 18, 2021
“We can’t go back to business as usual” doesn’t really mean very much.
The Independent’s John Rentoul captured the mood. Starmer was anxious and leaning on his lectern. The whole affair seems a little overhyped…
Starmer occasionally leaning casually on the lectern, but still looking anxious pic.twitter.com/l4Pt4FoWgI— John Rentoul (@JohnRentoul) February 18, 2021
The Sun’s Harry Cole on the wisdom of pre-briefing the policy proposals as being “on a scale of the 1945 Beveridge Report”
I would humbly suggest that may have been a little bit over hyped.— Harry Cole (@MrHarryCole) February 18, 2021
Robert Colvile, boss of the CPS think-tank, quips that “if Sir Keir is now promising not to raise taxes in a recovery and taking up our idea of a recovery bond, perhaps when the rules allow, we should get him in for a lunch in the boardroom and give him some more policy ideas.” Quite…