A clever move by Cameron-admits mistakes on economic thinking

David Cameron has admitted that the Tories got it wrong on the economy and has made a clever move.

Speaking to the CBI in Birmingham the Tory leader said

our banking system is not separate from our economy, it is a reflection of it. The unsustainable debts in our banks are a reflection of unsustainable debts in our households, our companies and our government. But if I’m honest, I have to admit that we – the Conservative Party – didn’t see this as early as we could have.

adding that

there are other areas of economic policy where I look back now and think we would have done it differently if we had the time again. For example, while we warned that it was wrong and complacent to claim that boom and bust had been abolished… we based our plans on the hope that economic growth would continue.

The clever move is to hint at some culpability and thus distinguishing himself and his party from Gordon Brown who is still adament that the causes came from abroad.

It differentiates the party from what has gone before and it means that new policy can reflect on the old mistakes.

Perhaps Gordon Brown should take note