George osborne

A fascinating poll result from Ipsos MORI today. They ask, essentially, whether people agree with the government’s ‘Plan A’ or Labour’s ‘Plan B’. Specifically, they ask: ‘People have different ideas about the best way of dealing with Britain’s economic difficulties. Which of the following do you most agree with? A1: Britain has a debt problem, built up over many years, and we have got to deal with it. If we don’t, interest rates will soar. That’s why tackling the deficit and keeping interest rates low should be our top priority. OR B1: Without growth in our economy, we are not getting the deficit down and are borrowing more. We need

I think it is fair to say that Dr Liam Fox has never been one of David Cameron’s chief chums. The former Defence Secretary has, as Paul Goodman notes, been closer to George Osborne. Be that as it may, his speech today is a fine reminder of Dr Fox’s political limitations. This is the kind of stuff – and the kind of man, frankly – that helps explain why the Conservative party has not won a general election majority since 1992. Think on that and think on how much Britain has changed these past 21 years and how little the Tory party has. Dr Fox ignored all this, delivering a

The idea of an ‘empty budget’ later this month is disappointing those who backed George Osborne in the hope of his fixing the problems he so eloquently outlined in opposition. If Brown proposed cutting the deficit by 33 per cent over two years, newspapers who criticised him at the time for lacking ambition — as Osborne did — can hardly be expected to applaud the Chancellor for cutting it by just 25 per cent over three years. Faster progress is needed: on the deficit, and on economic growth. There are many tools that can be used and the Sunday Telegraph describes a few of them today in its leading article. It’s an

What sort of Budget will George Osborne unveil on 20 March? In this week’s Spectator, Fraser Nelson predicts that it will be an empty one, devoid of radicalism. The piece outlines one meeting in which the Chancellor explained why he is feeling so cautious: Before every Budget, George Osborne always seeks the advice of various MPs. He usually doesn’t heed it but it’s a good way, he thinks, to keep the troops happy. As the economic headwinds have strengthened, this advice has tended to be increasingly radical and in a recent meeting with the Free Enterprise Group of Tory MPs, the Chancellor made clear he was in no mood for

Panic, once let loose, is hard to corral. And there seems to be plenty of panic on the Tory benches at Westminster. The Eastleigh by-election result, the stagnant economy and the rising sense that the Prime Minister has somehow lost his way all contribute to this. Each fresh setback – or perceived setback – now has an impact disproportionate to the actual size or importance of the problem. These things are no longer measured on a linear scale. Read, for instance, Ben Brogan’s analysis in today’s Telegraph and you will perceive an under-current of deep panic presently afflicting the Tory tribe in London. Similarly, when Paul Goodman is writing –

The 2013 budget promises to be a milestone for David Cameron’s government. George Osborne is under pressure to avoid the ‘omnishambles budget’ of last year. As well as satisfying his increasingly-militant ministers, angry backbenchers and coalition partners, the window for making a real difference in time for the next election is closing. Any seismic shifts planned by Osborne and Cameron will have to be made soon. Coffee House will be providing extensive coverage throughout the day but we’re delighted to offer something special. On the evening of 20 March, the Spectator will be hosting a special event in central London with Fraser Nelson and James Forsyth. Chaired by Andrew Neil,

George Osborne spent an hour in front of the 1922 this evening. 40 Tory MPs took the opportunity to promote their own Budget ideas to him. From what I understand, the tone of the meeting was cordial with Osborne in relaxed form. A big theme was the cost of living with three MPs including Rob Halfon pushing the Chancellor on fuel duty. Osborne’s responses were non-committal but significantly he didn’t say that binning the fuel duty rise scheduled for September was unaffordable. Instead, a distinct vibe was given off that these MPs concerns would be accommodated. Two other MPs– Steve Brine and Henry Smith—made the case for a cut in

George Osborne was playing historian today as he responded to Ed Balls’ urgent question on the credit rating downgrade, charting Labour’s role in the UK’s loss of the AAA rating; particularly the deficit it bequeathed the Coalition. But he was in revisionist mood when it came to his own stance. As Ed Balls repeatedly leant across the despatch box and tried to hand the Chancellor a copy of the Tory 2010 manifesto in which the party lists ‘we will safeguard Britain’s credit rating’ as the first of its eight benchmarks, George Osborne told MPs that what he had always said was important was the confidence of the markets. MPs were

The United Kingdom’s triple A rating is now lost with one credit rating agency, Moody’s. This is a politically difficult moment for George Osborne. Back in February 2010, he set keeping the triple A rating as one of the key tests of a Conservative government’s economic policy. His opponents will delight in pointing out that he has failed the test he has set himself, while nervousness on the Tory benches about the coalition’s economic strategy will be heightened by this news. Economically, though, I doubt that this will have much impact. In recent weeks, Britain’s debt has been trading more like that of France, which has lost its triple A