This weekend, a YouGov poll for the Sunday Times showed Labour with a 10-point lead over the Tories. After a bruising summer for Ed Miliband, during which he has been accused of floundering and letting the coalition dictate the news agenda, this was welcome news in the Labour camp.
The polls have been steady for a long time now, giving Labour a lead of somewhere between 3 and 10 points (largely depending on where Ukip are – more of which later). Given the party probably only needs a two-point lead to win an overall majority, the party looks fair set. At least, that’s the argument of long-time Ed supporter Mehdi Hasan, who argued last week: Read more
This morning’s research from the IPPR lays out in thorough detail just how difficult George Osborne will find it to meet his fiscal rules when announcing his spending review for the period 2015-2017 next year.
The think tank has analysed the forecasts from the OBR and the Treasury and calculated the cuts needed to make sure the current structural deficit is cleared by the end of the five-year period and debt is falling as a ratio of GDP by 2015.
Firstly, let’s assume no cuts are made to welfare. If that is the case, the chancellor needs to make average savings of 3.8 per cent from departmental budgets. If spread equally among the departments, that would mean hugely controversial measures such as cutting the NHS budget by nearly £8bn a year and education by nearly £4bn.