The Spending Review has not gone well with the public. After weeks of Labour slipping in the polls, and the gap narrowing between Labour and the Tories to 38/32 in one case, the overnight poll from You Gov has come up with this startling reversal:
From today’s Sun/YouGov poll:
Lib Dems 11
That would give Labour a majority of 112
We’re back to an 11 point gap and UKIP support is starting to fade. The drip, drip, drip of stories about UKIP from Smith Square is starting to tell and they’ve fallen below the Lib Dems for the first time in months. Ed Miliband has to seize the moment and change the narrative from compliance to attack. This is the moment when things can change, but only if we stand up to be counted. If we go on the offensive now and continue to build momentum the election is there for the taking. Labour is the government in waiting. It’s time to act like it.
The Osborne failure
According to the Osborne plan the UK economy was supposed to have grown by 6% by now, compared to the anaemic 1.1% we’ve seen over the past three years. Over the same period, Germany has grown by 2.9% and stimulus-friendly America by 4.9%.
The deficit is up, year on year. The national debt continues to rise. The chancellor will be borrowing £96bn come 2015.
Nearly every one of the Chancellor’s key indicators have been missed by some margin, despite all the targets being downwardly revised six times.
If ever there was an object lesson in failure, it is this hare-brained concept of austerity. It just doesn’t work.
Einstein is often credited with saying that the definition of insanity is doing the same thing over and over again and expecting different results. It wasn’t him, but nevertheless it is applicable in this instance – to continue to starve the economy is madness and will not work as advertised. Either they’re wrong and not admitting it, or there is another agenda at play here.