Those in doubt of Osborne, read Rawnsley...

Andrew Rawnsley's column in the Observer on Sunday is well worth a read by anyone who has any doubts about Osborne's economic strategy.

Rawnsley argues that it is Osborne's refusal to heed the call for the Conservatives to out-bid Labour on tax cuts which is causing him the most trouble, but that he is holding out because he has taken the long-term, strategic view that Gordon Brown is "purchasing short-term advantage at a high long-term cost."

Rawnsley wrote: "By finally abandoning altogether the territory of fiscal responsibility, the Prime Minister has given the Conservatives the chance to take ownership of that precious ground. Grand gestures by the government may cause the Conservatives discomfort when the Pre-Budget Report is unveiled in a week’s time but the shadow Chancellor thinks that is not as important as which party looks the more trustworthy on the economy at an election in 18 months' time."

Now, Rawnsley readily admits this is not a cost-free strategy describing it as a "gamble" because Osborne is "taking a punt about how things will develop both politically and economically. Osborne will have made the wrong bet if Brown comes out of this looking like the bold saviour of the economy. The Prime Minister's reward will be the gratitude of the voters and a big split in the Conservative Party." But if Osborne gets it right, then the Conservatives will be well placed to prosper at the next general election and Brown's and Labour’s economic reputation will once again be in tatters.

Rawnsley concludes by saying: “The Prime Minister has to take a double-or-quits gamble. The Tories do not. George Osborne's critics are only thinking eight days ahead. He is trying to see 18 months ahead. That makes the Shadow Chancellor smarter than those Tories who want to toss him overboard.”

Wobbling Conservatives need to grow some backbone and hold the line. Brown wants nothing more than the scalp of Osborne and the Conservatives once more in disarray. The Tories are anything between 5 and 13 points ahead in the polls and are consistently polling between 41% and 43%. In 18 months time it will be clear to all that Brown has been a reckless steward of the British economy and he will be duly punished at the next general election. One just hopes that the damage inflicted by Gordon's "scorched earth policy" will be able to be rectified by Cameron and Osborne after 2010!