It’s the economy, stupid

Lights, camera... action?

The other day I met an old woman in Rochdale and I called her “bigoted”

With the media frenzy of yesterday still fresh in their minds, the watchword for tonight’s final live televised leaders’ debate is bound to be ‘caution’. Yet given the topic of the debate is the economy, caution is not what is called for. The IFS, having been unceremoniously bumped off the news agenda yesterday, continues to press its case for greater honesty on the huge spending cuts it says will be necessary.

Some pundits have suggested that a bold strategy on the economy might even deliver two terms. The logic being: normal political logic does not apply. The harder and bigger your stick now, the more carrots you can dangle by way of sweeteners in time for the next election. No-one ever won an election promising a decade of straight cuts, afterall.

Cameron clearly has the most to win and lose tonight. His ‘big society’ idea has not really set voters’ hearts and minds alight, and he needs a big performance (which he is more than capable of) if he is to secure a workable majority. That said, he will be exposed to Brown and Clegg who will point out his inheritance tax policy favours the very wealthy and for his stance on Northern Rock in the middle of the crisis. As the country’s foremost economist (also known as Robert Peston) pointed out on Tuesday, taxpayers are currently a few billion quid up on their involuntary investment in Lloyds...


QUOTE OF THE DAY

“Sky' Kay Burley asks student with red Gordon Brown t-shirt, which way he's going to vote. He says ‘Er, you can tell from my T-shirt. Labour’”

– Paul Waugh of the Evening Standard wonders if all the election coverage is taking its toll on Kay Burley.


THE GREASY POLL
Lab 27, Con 34, LibDem 31 (YouGov)