Reaction to Osborne's speech
The YouGov daily tracker poll that came out this evening reads:
Con 40% (-3)
Lab 31% (+2)
LD 18% (+2)
This is the best Labour poll rating since April and translates into a Tory parliamentary majority of only 4. The impact of Osborne setting out his slash and burn approach to the public finances seems to be worth up to 50 extra Labour MPs. After all, why would any of the 3 million public sector workers affected by Osborne's pay freeze but not Darling's one on the top 20% of their colleagues now vote Tory?
Or the over 2 million extra people who would lose their jobs, taking unemployment to 5 million, because of the deflationary impact of his measures turning the recession into a double dip one, according to economist David Blanchflower? He said of Tory plans to switch off Quantitative Easing:
"This is the most wildly dangerous thing I have seen in a hundred years of economic policy in Britain, [they are] showing no understanding of economics. To remove QE and cut public spending is like a return to 1937 — it could drive the economy into depression. This is the most bizarre set of economic policies I have ever heard.”
On behalf of Labour activists everywhere I would like to thank George Osborne for single-handedly kick-starting our General Election Get Out The Vote campaign.