Well, where do we begin?
If you’re a member of the Coalition, or a member of Labour, you’ll be measuring success by reduction of the deficit. The Coalition argue that Labour are not ‘serious’ about cutting the deficit in that Labour wishes to cut it less fast. There is a possibility that the Coalition will be able to make the deficit zero within 5 years. Currently, it is estimated we spend £120 million a day, which is money we can’t spend on schools, teachers, hospitals, doctors, nurses, defence, helicopters etc.
However, if you’re a member of Labour, you might think that these cuts bring the possibility of a ‘double-dip’ closer. The Coalition believe that a double-dip is most unlikely on the basis of the recent GDP figures, yet Labour believe the GDP deceleration in decrease was somewhat artefactual due to temporary ballasting of the construction sector. There could be, in any case, an increasing number of unemployed, and whilst all politicians have maintained that ‘every figure unemployed is a tragedy’, many fear the return of Lamontism ‘Unemployment is a price well worth paying’ [and for that matter Tebbitism, 'Get on your bike'].
Ed Miliband MP and the entire front bench have claimed that they wish the economy to improve, but they have never used terminology such as ‘the success of cuts’. Labour knows that it is on a sticky wicket if the economy does indeed make a dramatic improvement before 2015, because the Coalition will attempt to argue that Labour attempted unsuccessfully to block deficit reduction plans. The Coalition are in this together, in that they have nailed their colours to this particular mast, and seem likely, informally at least, to go into an informal arrangement if AV is introduced (e.g. Tories and LibDems get interchangeable 1st and 2nd votes).
Possibly, the best thing is to let nature take its natural course, and Labour should react to events as or when they happen. There has never been a plan B throughout this entire process. But the Coalition are querying whether Labour has the interests of the country at heart – or whether it would really like the measures to balls-up making growth at laughable levels and millions of unemployed, deep down in the hearts?
