Thursday, 17 November 2011

Eaton-Why the economy could now cost the Tories their majority

Over at the New Statesman's Staggers blog George Eaton believes that the current economic turmoil could cost the Tories their majority.

Osborne's pledge to eliminate the structural deficit in one parliament was based on a political timetable, not an economic one. By 2015, Osborne envisaged that the Tories would be able to boast that they had claned up "the mess" left by Labour - a powerful political narrative - and offer cuts in personal taxation. But anaemic growth, higher unemployment and, consequently, higher borrowing mean that this is an increasingly distant dream. Osborne's ultimate goal - a Tory majority - is slipping out of reach.

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