Tuesday, 30 September 2008

Dispatches - Hedge Funds are evil

I watched Channel 4's Dispatches programme last night entitled: 'Cameron's Money Men'.
It wasn't the most balanced of documentaries to say the least and portrayed Cameron as a hypocrite, saying that despite the Tory leaders lofty rhetoric about transparency in party funding, the Tory leader had not matched it with action.
So we had reporter Antony Barnett (never heard of him) dig up the standard stories about Lord Laidlaw and Lord Ashcroft.
But Barnett also sought to make a huge issue out of the Tories being funded by 'secretive' hedge fund managers who use that most 'evil' of financial practices to make money, namely short selling - the favourite scapegoat of every government of today.
The documentary was essentially saying: Tories are being backed by wealthy people which raises 'cash for access' issues and Tories should not be benefiting from short selling.
This made me think several things:
  • How on earth is the Tory party supposed to raise the necessary funds to fight an election if it cannot take donations from wealthy backers?
  • The Tories do not get given millions of pounds from unions like the Labour Party.
  • Parties cannot rely on lots of very, very small donations to function - who do you personally know has either the inclination to donate to a political party and/or the money to do so in prosperous times, nevermind during an economic downturn?
  • £50,000 a year per wealthy individual signed up to the 'Leaders dining club' is hardly a lot of money in the whole scheme of things. It's hardly buying influence. I know are ploiticians can be cheap, but surely not that cheap?
  • Those who give the money are obviously going to be more inclined to do so if they get to meet Cameron, Osborne, Hague etc.
  • Just because Cameron meets these people does it mean he rejects the views of voters who do not donate? This just does not follow.
  • Why should Cameron not meet these types of people - they are voters and taxpayers.
  • Modern communication costs lots of money; do we really want hard-pressed taxpayers paying for party funding because that's the alternative? I certainly do not - public spending and my taxes are high enough!
  • In the US, donating money is equated with freedom of speech. Curtailing donations is seen by many as violating the 1st Amendment. Why, in this country, is exercising one's freedom of speech via a donation always seen as dodgy and morally corrupt? Cynics always choose to believe a donation is given to get something in return. It is not naive to suggest that sometimes people give money because they support the aims and aspiration of the party and its leader. You would be surprised how even businessmen are dazzled by politicians, and a meeting with them is enough for them. Those in public affairs are always amazed by this.
  • Politicians have made short-selling the scapegoat in the current economic crisis, particularly the fall of HBOS, whereas data has shown short-selling activity had been steady and was not the cause. Governments like to show to their citizens that they are not helpless and can do things which is why we have a lot of unnecessary legislation because politicians feel they always have to act. Therefore, a ban on short-selling was a cheap, populist way of showing voters that government was keeping a check on the practices of those nasty bankers.
  • Short-selling has been in practice for over a century and is a legitimate financial practice which even Alistair Darling has conceded. The Church of England has got on its high-horse saying it was morally wrong but was then found to have egg on its face after it was revealed it has benefited from the practice. Oh dear, God won't be happy...
  • And as Guido has pointed out, the Lib Dem's Lord Oakeshott was up in arms on the Dispatches documentary about the Tories and short-selling but one of the Lib Dems biggest donors, is Paul Marshall who is worth over £300 million and has donated seven-figures sums to the Lib Dems despite being half of Marshall-Wace, hedge fund managers, who engage in short-selling! Oh dear, Lord Oakeshott is In the Brown!!!
  • Furthermore, as Guido has also pointed out, Labour too has benefited from donations from hedge fund managers engaging in short-selling - inc. Paul Myners, Ronald Cohen, Derek Tullet and Gilad Hayeem to name a few - which perhaps explains Labour's silence on this issue.

Osborne's new quango to tackle Brown's profligate spending

A few thoughts about George Osborne’s plan to create a new quango called the ‘Office for Budget Regulation' (OBR) if the Conservatives win power. It was the first of the Conservative financial reforms to be announced at the weekend. The role of the new office would be to ensure government does not break certain spending or borrowing limits, as part of a new “Debt Responsibility Mechanism.” It would have a remit of forecasting the public finances and saying whether current trends are in line with the desired path. The idea is new in the UK although other European countries have similar ‘Offices’ in place and in the US there is the Congressional Budget Office (CBO).


George Osborne has said: “We will call time on Gordon Brown's age of financial irresponsibility and put in place an independent system that will allow a referee, if you like, to show a yellow card to a Chancellor and Prime Minister if they are stepping out of line.”

So, why has Osborne done it, how will it work and are there any problems?

  • It aids the Conservative narrative that Brown has been an irresponsible, profligate spender and borrower who encouraged an irresponsible decade of unsustainable growth on the back of unprecedented levels of public and household debt. The Shadow Chancellor used his Conference speech yesterday to talk about the OBR and give an ‘honest’ assessment of the economic situation saying all the money had been spent and the “cupboard was bare.” This of course he blamed on the profligacy of Gordon Brown. Osborne said there was only one Golden Rule in politics: “Never trust a Labour government with the public finances.”

  • It shows the Conservatives as the party of Prudence and Stability. Brown once had these two to himself but has jilted them both. His fiscal rules are now worthless and prudence was left behind in 1999 when Brown chose to no longer stick to Tory spending plans and began turning on the spending taps (he turned them on full in 2001).

  • As Fraser Nelson from the Spectator has pointed out, it should act as handcuffs for a future Labour government who, in theory, would be reprimanded by the OBR if they ever tried to spend so much money and build up so much debt again. But as Nelson points out, this is slightly defeatist as it anticipates a future Labour government. That said, it is also pragmatic and if successful would be a thorn in any future Labour ‘tax and spend’ government. I see this (and the two points above) as the main reasons for the creation of the OBR. However, there are two possible flaws. One is that the Prime Minister will no doubt appoint the Chairman of the OBR. A future Labour PM could appoint as Chairman someone who is comfortable with a loose fiscal policy (i.e. tax and spend), though if the Tories appoint a Chairman on a long term it would make it harder for Labour to replace the incumbent Chairman. Second, a future Labour PM could just abolish the OBR claiming it was a waste of money. Whether it would be politically possible to do either would depend on how successful, trusted and established the OBR and its Chairman had become and therefore the criticism the media would level Labour’s way if they proposed abolishing it. It would also depend on whether ‘tax and spend’ was a toxic issue in the future. If it was, it is unlikely Labour would propose abolishing the OBR for fear of becoming unelectable.

  • It will go some way towards convincing the electorate that a Conservative government will keep its promises to keep spending and debt at sustainable levels. However, it is a sad indictment of politics today that the Conservative Party – traditionally seen as the low tax and spend party – would not be trusted to deliver just that if it featured as a manifesto commitment. This makes me think this is more about constraining Labour and making them look bad than keeping Conservative spending under control.

  • It may help placate those Conservatives who are pushing for tax cuts to be offered upfront. If they see the OBR as a credible tool in bringing down public spending (a good in itself for those on the Right as it will signal smaller government) they may also feel, in time, that tax cuts would be able to follow as a result.

  • It will help the Conservatives cut spending and provide some political cover for the Tories from Labour attacks that they were cutting essential public services – a favourite line of the Left whenever cuts in public spending are proposed (as if all public spending goes on front line services!)

  • Although some have compared the proposed OBR with Labour’s decision to grant the Bank of England independence over setting interest rates, the two are not comparable. Short of rescinding the Bank’s independence, the Chancellor cannot alter the interest rate decision taken by the MPC (though he does set the inflation target). With the OBR, its Chairman will only have an advisory role and will not recommend tax or spending changes. Prime Ministers and Chancellors will be able to ignore the OBR’s advice, though crucially the PM and/or Chancellor will have to come before Parliament to explain why they disagree. This way the government still keeps control but has a ‘spending conscience’ on its shoulder. David Cameron claims it will be a “rod for our own backs” though Peter Riddell of the Times sees it more of a “system of traffic lights” similar to the Bank of England's published Inflation Report before independence in 1997. Nevertheless, so long as the OBR is made credible, any differences between it and the government of the day would be heavily reported on by the media which could help keep a check on government spending and debt, though this would be dependent on the government which first created the OBR not undermining it straight away, which should be possible as it would be a Conservative government.

  • Rather than Brown’s current fiscal rules (Golden Rule and Sustainable Investment Rule) which were backwards looking, could be revised (and thus were undermined), and had more relevance as anchors in prosperous times, the proposed OBR is meant to form part of a forward-looking framework for public finances, overseeing a falling proportion of debt and a balanced current budget. As Peter Riddell points out, instead of an upper limit set on spending and borrowing (Brown’s fiscal rules), the focus under the Tories would be on direction: downwards. It is hoped that this could make a real difference although there currently is a lack of detail about timing, and how long it will take to achieve such fiscal prudence.

P.S. Sorry for the absence of posts the last couple of days - i've had a busy few days!


Friday, 26 September 2008

Is Cameron's background relevant? It is to Sky's Kay Burley!


Sky News's rather annoying Kay Burley asked Cameron in Sky's self-styled panel of experts interview due to be screened tonight at 8pm whether Cameron can relate to people who are struggling during these hard economic times given his privileged background - she even described him as a Toff.
I just can't see the relevance of these questions, and neither can the majority of the public (see my earlier posting on MORI's findings about what voters look for in their leaders).
Why is it relevant? Do we need to experience everything for ourselves to know what is best needed to remedy the situation? For example, does a minister or civil servant devising schemes to help drug addicts have to actually become a drug adict so they can experience the needs of a drug addict for the themselves? No, its preposterous!
Furthermore, why is this stupid question not asked of Gordon Brown? On his £188k salary as PM, I don't suppose he knows from experience how people are currently struggling - but that does not make him unqualified for the job (there are plenty of other reasons for that), and nor does it David Cameron.

Thursday, 25 September 2008

Socialist France to restrict executive pay


It has just been announced that France is to introduce legislation to restrict the pay of its company executives.

Always good to see our friends across the Channel showing their true lefty credentials - so much for Sarkozy being a man of the right.

It's a terribly misguided populist measure that will do nothing to remedy the lack of liquidity in the financial system. Pay levels should be left to the market and shareholders.

What's interesting for us in the UK is that this is bound to put Brown in a spot of bother. The loony left in the Labour Party that have never been comfortable with 'New Labour' will undoubtedly call for Brown to take similar steps to Sarkozy's France. Brown will reject these calls i'm sure, but it will be further confirmation that the Labour Party is yearning to return to its 'Old Labour', traditional roots.

God help us...



Will the Lib Dems be bothered they've been found guilty of breaching privacy laws?

This is all about the 250,000 households who were supposed to receive calls with a recorded message from Lib Dem leader Nick Clegg.
Iain Dale has blogged that following a complaint from the SNP, the Information Commissioner's Office (ICO) said the Lib Dems had broken privacy rules.

The SNP will trumpet their tit-for-tat success (the Lib Dems had complained to the ICO about the SNP using similar marketing tactics in 2005).

However, will Clegg really be bothered? The Lib Dems have already made the calls (popular in US campaigns) so therefore will have achieved their objective of reaching out to people following their relatively successful party conference.

Now they are threatened with prosecution unless they stop. So what? They've already done it! The ICO will have the Lib Dems quaking in their boots!

Wednesday, 24 September 2008

Labour would be making a mistake with an anti-Toff electoral strategy

Two slides from Ipsos MORI below indicate that Labour would be making a mistake if it tried to make capital from David Cameron's priviledged background.
The first slide features the question: What people dislike about Cameron / Brown. One of the answers is 'too posh'. But only 5 percent of those surveyed said they disliked Cameron for being too posh. Interestingly, Brown also scored exactly the same!


And the second slide asks: What kind of leader would you prefer? The overwhelming majority (71 percent) say they want someone better qualified than themselves in terms of background and experience as opposed to 24 percent who say they want someone similar to them in terms of background and experience.

The two slides seem to indicate that the electorate is not perplexed by the 'class' of its leaders. The class warriors like the Ed Balls's of this world ought to think again if they wish to make Cameron's background a feature of the next general election.
As the Crewe and Nantwich by-election showed us, old-style class politics has had its day.

MORI - Brown more unpopular than Major


Boulton asks Brown whether he owes Osborne an apology...

And surprise surprise, Brown refuses to give one.

This follows Brown's deliberate misquotation of remarks Osborne had made about capitalism which Brown used in his conference speech to make the Shadow Chancellor appear heartless about the financial loss and misery of others.

Check out Guido for the Sky News interview.

Brown tries to wiggle out of it but Boulton skewers him time and time again.

Ipsos MORI - 'The Verdict on Brown'

I’ve just come into contact with Ipsos MORI’s Party Conferences Briefing entitled ‘The verdict on Brown’.

It is an interesting slide-show document that provides an overview of where the parties and leaders stand PRIOR to the Labour and Tory party conferences.


The key messages from MORI are:

  • David Cameron and the Conservative Party are still making real headway against Gordon Brown, with more than half the public agreeing that the Conservative Party is ready to govern.
  • Cameron has struck a note with the populace, with two-thirds (63 percent) agreeing with his assertion that “British society is broken,” and half believing that “David Cameron represents modern Britain.”
  • The Tories are now seen as better than Labour on having the best team of leaders, understanding the economic problems facing Britain and having the better policies on family issues.
  • The Tories are also seen as having better policies than Labour on all key issues to voting except healthcare and education (but fewer voters now feel these matter in deciding who runs Britain).
  • In contrast 44 percent say there is nothing they like about Gordon Brown and 69 percent are dissatisfied with the way he is doing his job as PM.
  • However, half (51 percent) do agree Brown is going a reasonable job in difficult circumstances.
  • Brown’s ratings are now where Major’s were after Black Wednesday – the Conservatives never recovered from this point and remained around 13 points behind in the polls for the best part of a decade.
What the MORI findings show is that far from Cameron's and the Conservative Party's poll ratings being simply a function of Brown's and Labour's unpopularity, the Tory leader has been able to make positive headway of his own - particularly with his messages about the 'broken society' and Cameron looks like he has successfully tapped into the zeitgeist of the 'modern', much as Blair once did, and this has contrasted badly with Brown, a man in his mid-fifties who has been in office for 11 long years.

It will be interesting to view the weekend opinion polls to see whether Brown's 'relaunch' conference speech (how many relaunches has this man had - was that his 102nd?) has helped his dire personal ratings, humanising him, and whether that in turn gives Labour a much needed fillip in the polls.

More to follow later on specific slides...

Ruth Kelly quits... but why?

Ruth Kelly claims she is resigning as Transport Secretary to spend more time with her family, and apparently signalled her intention to step down at the next election to the PM back in May - that is if you take them both at their word.

Commentators are always sceptical when an ambitious career man or woman resigns their ministerial post to spend more time with their family. Somehow it just does not ring true. They've spent all their life climbing the greasy pole only then to decide family most come first.

BBC political editor Nick Robinson has said Kelly was known to be unhappy with the direction of the government in recent months and, before the Prime Minister's conference speech, a number of Cabinet ministers had been considering resigning with her.

There had also been speculation the 40-year-old, a devout Catholic, could leave the government because of her objections to the Human Fertilisation and Embryology Bill.

There is also the issue of her constituency majority. Her seat is a marginal constituency so if she wants to hold on to it at the next general election fending off the Conservatives, she will need to spend a lot of time in her constituency bolstering her position. As a Cabinet Minister she would not have been able to afford the time necessary. In this respect, her resignation could be about saving her status as an MP. Kelly denies this, saying her reason for stepping down is just to spend more time with her family.

However, what seems so strange to me is that given that Brown had a reshuffle back in February after Peter Hain’s forced resignation, why did Kelly not know she wanted to spend more time with her family then? Why, just three months later did she suddenly realise family must come first and thus informed the Prime Minister accordingly.

What changed? Did she really signal she wanted to leave government in May? If so, was it for family reasons or because of her disillusionment with Gordon (despite their show of unity today)?

Call me a cynic, but i think this has to be more than just for family reasons!

Tuesday, 23 September 2008

Bourne-MOUTH

Can somebody please tell Gordon Brown how to say Bournemouth.

Everytime he says it he pronounces it 'Bourne-MOUTH'. He sounds like such a plonker!

Gordon Brown's Speech - Analysis

Opening thoughts

In what was billed as the most important speech of Gordon Brown’s political career, crucial to his chances of remaining PM, Gordon Brown delivered a speech that was all about re-introducing himself to his party and the British people. In many respects it was the speech he should have given last year – instead of his politicking, dog-whistle speech he gave ahead of his planned election (that never came to pass). That said, it is clear he feels that the British people have already judged him – harshly in his opinion – and thus are no longer listening to what he has to say. That being the case, he needed to reintroduce himself – asking for a second chance and for people to get to know him again. Whether it works is a moot point.

Perhaps, like Labour’s economic performance, his speech was a game of two halves. It started very strongly but then lost structure. Clocking in at 58 minutes, two-thirds of the way through it felt like it was a never-ending speech, and became quite mediocre despite its promising start and the odd decent soundbite. He also sought to address the criticism that he had no narrative for government by making fairness his raison d’être. Labour activists gave him rapturous applause at the end and standing ovations through-out – but that was to be expected given his current predicament what with all of the leadership speculation going on. They probably would have cheered him had he given the worst speech ever by a politician. Brown also took the attack to the Tories which cheered his party, though some of his statements opened him up to the charge of what has he been doing in government all these years, whereas other statements declared as fact were even misleading or outright fallacies. The Tories will no doubt look to exploit these.

The speech in detail

In a novel beginning – at least for British politics, though definitely not US politics – the PM was introduced by his wife, Sarah Brown, who spoke of her pride in her husband’s work. This was a clear attempt to humanise him – one of his failings and one of her ‘natural gifts’. It was an interesting innovation and a complete surprise to all.

Brown then entered the conference hall to the sounds of Jackie Wilson's ‘Higher and Higher’. Uplifting song, kiss to the wife, very warm reception from the Labour faithful and then straight to the point.

He said he wanted his speech to set out who he was, what he believed in and what he was determined to lead his country to achieve. It was at this point that I felt that this should have been the speech he gave at his first conference as Labour leader.

He said he did not get into politics to be a celebrity (a point he has made before – dig at Cameron and Blair and also shows his seriousness) or to be popular (that got a laugh from the conference hall). A common theme of Brown’s speeches is public service and again he said that he got into politics to serve the people. Nobody would doubt the Prime Minister on this point though he strangely followed it up by saying he did not come to London (read: Westminster) to become part of the Establishment. The left likes to think of itself as being anti-establishment but how a Prime Minister who for 10 years was Chancellor of the Exchequer can claim he is not part of the Establishment is beyond me.

The opening part of his speech was very good. He declared that he was not going to change who he was. In a good soundbite, he said that some had said he was too serious, but he said there was much to be serious about. This was Brown trying to tap into his early successes as Prime Minister last year when he won plaudits for emphasising his seriousness over others’ celebrity. Unfortunately for him, he is unlikely to get the same favourable hearing he received the first time he tried it.

He said he knew the difference between right and wrong but then, said he has refused to use his children for political gain because they were “not props, they were people,” a none-too-subtle criticism of David Cameron for being filmed and photographed with his children. It seemed a bit unnecessary. Clearly Brown has been stung by criticism that he can come across less than human and will have been urged to incorporate his children, but I cannot recall Cameron attacking Brown for not using his children. In any case, across the pond in the US, children are a feature of Presidential campaigns, as candidates seek to show support for family.

The media had been briefed prior to the speech that Brown would use it to admit his own mistakes during the past year. In the event we were treated to just one, a half admission of culpability over the 10p tax fiasco. Brown said he put his hands up yet failed to explain why he had made the mistake. He was more concerned with telling the conference that the criticism had hurt him because he had only ever wanted to be on the side of hard working families. There was no mention that the mistake began with him trying to out manoeuvre the Tories on income tax in his last Budget; that he had ignored Treasury advice that abolishing the 10p tax rate would hurt the most vulnerable; and his subsequent stubborn refusal to admit he was wrong until a backbench revolt on the issue was seriously destabilising his leadership. That would have been a proper mea culpa.

Nonetheless, he used this as the link to his big theme of his speech – 'fairness'. This was Brown’s attempt to address the criticism that he had no vision. As we will all remember, he claimed that he called off his planned general election last year because he wanted to set out his vision for the country. He has tried making aspiration and opportunity for all his overarching narrative but this has failed. Therefore, he has now taken a second stab at it – almost a year after pledging to set out his vision. ‘Fairness’ seems now to have become his raison d’être. However, I might be being uncharitable here given that Labour has traditionally championed fairness, but it seems to have taken David Cameron and George Osborne’s recent remarks saying that the Conservatives were the true progressives and the party of fairness for Gordon Brown to have suddenly realised what his vision was after all. Consequently, it looks like a response to Conservative political positioning rather than anything proactive. Did he not know he was about ‘fairness’ last year?

Showing his statist credentials, much beloved by the Labour party, and in a jibe at Cameron’s Conservatives, he said that those who called for less government would be judged on the wrong side of history. Throwing red meat to the party faithful, he even said: “those who don't believe in the potential of government shouldn't be trusted to form one.” David Cameron, Nick Clegg and myself would disagree with him.

Brown claimed Labour was still a “free market party” – in case all the anti-City statements from the Labour conference this year had led people to believe otherwise – but said it was important that people were only rewarded for “hard work, effort and enterprise.” He called this a ‘new settlement’ – one of the key phrases from his speech.

Brown said the government would have to make tougher choices in the future. He said that the government needed to make economies like families and ensure the money was spent wisely. This struck me like shutting the stable door after the horses had bolted. After all, this is the same PM/Chancellor who for 11 years had presided over profligate increases in public spending, much of it not spent efficiently nor wisely. With public debt higher now than when Labour came to power, despite 11 years of uninterrupted growth and public spending still increasing, the government ought to be tightening its belt but has not done so.

Brown then entered the ‘tractor statistics’ section of his speech, though this time round, mindful of criticism, he tried to humanise them. Each statistic was followed by a human story. So, “three million more people in work since 1997” became “three million more people in work since 1997 - that's not just a number, that's a life that's been changed - three million times over. That's the young woman laid off in the mid 90's who's now built a booming business of her own.” However, what Brown failed to tell conference, and repeatedly fails to tell people, is that 2 million of the 3 million jobs created have gone to immigrants. Brown then bizarrely claimed that he had created these jobs – “not by accident, by our actions.” I thought entrepreneurs created jobs whereas governments helped create business environments conducive for job creation. Perhaps he was talking about all the taxpayer funded public sector jobs he has created since 1997 that do nothing to increase Britain’s GDP?

Brown then returned to his recurring theme of ‘fairness’ saying Labour champions it not for good soundbites, photo opportunities and PR (more digs at Cameron) but because it was in Labour’s DNA, its soul.

He talked about unleashing a wave of social mobility and unlocking all the talents of all of the people – a phrase he has used before – but the question one must ask is what has he been doing for 11 years during which social mobility has got worse, not better?

Brown name-checked almost every member of the Cabinet, praising their work, but this affected the flow of his speech - not to mention adding unnecessary length, though perhaps he felt he needs all the Cabinet support he can get.

At this point his speech had lost momentum and had begun to drag. It was as if Brown had to say something about every issue area in case he was accused of not caring. He would have been best perhaps to have focussed on a few key issue areas. It was also at this point that the speech seemed to lose its structure and therefore it lost its way.

However, it picked up again temporarily when he went on the attack against the Conservatives. He said everything the government had done to promote fairness had been opposed by the Tories. He then gave the most bizarre retort to the Conservatives saying “we did fix the roof when the sun was shining.” If that was supposed to put the Tories in their place it flopped badly. The Conservatives have used that phrase to criticise Brown for not putting the public finances in order, saving money during the good times to help during the bad etc. The Prime Minister used his retort completely out of context and it just did not make any sense.

Then the BBC and Sky temporarily lost coverage of the speech – I think it was their way of telling Brown to wrap up his speech!!!

Brown continued with his attack on the Conservatives, misrepresenting their economic policies and misquoting george Osborne. He said the country could not trust the Conservatives to run the economy and in his best line which is sure to dominate tomorrow’s front pages, he said: “I’m all in favour of apprenticeships; but this is no time for a novice. “ It was a clever line designed to show his experience and the conspicuous lack of it on the Tory front bench. Interestingly, however, the BBC’s Nick Robinson said after the speech it might also have had a dual meaning. Brown might not only have been calling Cameron a novice, but David Miliband as well.

The PM repeated his criticism of the Conservatives as the party of spin and salesmanship, which is ironic given that he spends more on spin than even Tony Blair. Brown wants the country to see Cameron and the Tories as offering only superficial change, but I feel he is guilty as many are in the Labour Party, of portraying the Conservatives as they want them to be rather than as they are.

He then rejected the Tory analysis of a ‘Broken Society’ saying that the country had never been broken (this is not what Blair used to say as Leader of the Opposition – it was he, after all, who first coined the phrase), that “this is the best country in the world. I believe in Britain.”

The speech was in desperate need of being wrapped up but Brown had yet to praise the military (typically an after-thought from Brown) and talk about foreign policy so we had a few paragraphs on those. Two more boxes ticked off. Structure all over the place.

Finally, he brought his speech to an end. A one hour speech had been made to feel like 2 hours!!! He said that he knew what he believed and knew what he wanted to do – added just in case people still doubted what he was all about.

Final Thoughts

Phew! A decent speech, which began very well, had a few clever phrases and went some way to addressing the vision thing, but his speech lost its way in the second half and was far too long. However, it should be good enough to buy him some time, at least until the Glenrothes by-election. It will be interesting whether he gets a bounce in the polls off the back of his speech. Despite all the announcements, there was not much in the way of financial help for those ‘hard pressed families’. That said, even Iain Duncan Smith got a 4-5 point bounce in the polls after his ‘quiet man’ speech so at worst Brown should be looking to get that.

On the day of Brown's make or break speech...

What does Brown and the government announce? A wholesale economic package to help those 'hard pressed familes' we hear so much about?

No, much better than that... we get internet access for disadvantaged children (didn't we hear about this 6 weeks ago?) and free theatre tickets! Well stone me, as Del Boy would say!

Don't know about you, but I can see Brown and Labour turning round their woeful opinion poll and electoral performances off the back of these revolutionary initiatives.

Maybe, humble Gordon will put right these deficiencies in his conference speech.

Maybe he will set out his mysterious vision (which he's kept as a closely guarded secret for a year). And maybe Brown will say sorry for his own failings (10p tax, the elction that never was, his presentational inadequacies, his inability to say what he and Labour is all about).

Maybe pigs will fly...

It has been briefed that his speech will be about fairness and will show a more caring Gordon, prepared to admit his mistakes.

However, if his speech is anything like his previous efforts, get ready for lots of tractor statistics, Brownies and multiple references to "getting on with the job."

Whatever happens he needs to give a powerful speech, talking of course about the economy but not exclusively, to shore up his position* ... at least until the Glenrothes by-election.


* Not that Miliband, his principal rival, gave a particularly barnstorming speech yesterday. But maybe that was because he was holding something back, fearful of a "Heseltine moment" ;)


UPDATE: I don't believe it! Not one "getting on with the job." Has our Dear Leader finally changed the record...?

.

Monday, 22 September 2008

Polls - It pays to look beyond the headline

The Independent on Sunday (21 Sept) led with the headline 'The Brown bounce' as it reported the latest ComRes poll.

However, if one looks beyond that headline, the poll shows nothing of the sort. True, support for the Conservatives has fallen seven points - 46% down to 39% - but the principal beneficiaries are the Lib Dems, not Labour.

Labour is only up 2 points whereas the Lib Dems are up 5%.

So, far from a Brown bounce off the back of his handling of the deteriorating financial situation, the poll results show that the Lib Dems have had the bounce instead - possibly off the back of their new tax and spend position.

In short, beware misleading newspaper headlines.

As for Independent headline writers the message seems clear:

D- 'Could do better'!

Sunday, 21 September 2008

LABOUR LEADERSHIP - Is it me or is the media missing a trick?

I have phoned the Labour Party's Compliance Unit a couple of times to clarify the rules regarding Labour leadership nomination papers.

I was told that nominations will only go out to Labour MPs if 20 percent of them (i.e. 71 MPs) request nomination papers. Interestingly, and contrary to how the media is reporting the issue, I was told that at the time of their request the MPs have to make clear which candidate they are backing. The reason for this is that nomination papers do not just go out when 71 MPs request them, BUT when 71 MPs back a single candidate.

On the face of it, there is no ‘candidate’. The media have not reported the rebel MPs backing a single candidate, since the story broke just over a week ago. The reporting has been about them trying to trigger a contest in a general sense, hence all the editorials about 'rebels without a cause'.

However, as there have been Labour MPs which have requested nomination papers from the general secretary, as was confirmed to me by the legal/compliance section of the Labour Party, then surely it follows that they will have had to have nominated a candidate at the same time.

If this is true then a ‘candidate’ must exist – whether the mysterious leadership candidate is behind the plot or not.

When I put this to the Complaince Unit, I was told they couldn’t discuss what the MPs had written in their letters to the general secretary, but they admitted they were interesting questions.

Indeed, so why are the media not asking the key questions: Who are the MPs nominating? Are they nominating the same person? If so, is it organised – a 'limited' coup? And does that person know they are being nominated?

Over to you Nick Robinson, et al...

Welcome to my new political blog - In the Brown...

It's an exciting time in politics what with the decline of New Labour under Gordon Brown and the resurgent Tories led by David Cameron, not to mention the Presidential elections from across the pond between McCain/Palin and Obama/Biden.

In the Brown..., the newest political blog, will primarily be focussed on the comings and goings in UK politics - who's up, who's down - but posts may also concern international relations as well as random, ecletic issues - if i feel the urge to post!

Feel free to email me any tip-offs and interesting stories and have your say in the comments sections!