A majority think Tory economic plans have failed

8:10 am - April 30th 2013

by Sunny Hundal    

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A ComRes poll last night for the Independent makes quite a remarkable point.

According to ComRes, 58 per cent of people agree that the Government’s economic plan has failed and so it will be time for a change of government in 2015, while 31 per cent disagree with this statement.

Some 85 per cent of Labour supporters, 73 per cent of Liberal Democrat voters and 67 per cent of UK Independence Party supporters think it will be time for change in 2015 and that the Government’s economic plan has failed –as does one in four (23 per cent) current Conservative voters.

Furthermore, the public is already equally divided over whether the Tories should be given a chance to restore Britain’s economic prospects after 2015: 46% to 44%.

Some 68% of Ukip supporters do not believe the Tories should be given another chance, according to the Indy.

As I said over the weekend, the speed at which the Conservatives have lost credibility on the economy is extraordinary.

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About the author
Sunny Hundal is editor of LC. Also: on Twitter, at Pickled Politics and Guardian CIF.
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Reader comments

I’m not sure that a midterm poll lead of six is all that good for Labour. Michael Foot had a bigger lead two years before the ’83 election. Neil Kinnock’s lead was twice as big two years before the ’92 election…

It is important to recognise that persistent criticism of Osborne’s austerity policies has come from the lead economics writers in the FT – Martin Wolf and Sam Brittain, and from Jonathan Portes, director of the NIESR, as well as, more recently, from Olivier Blanchard, chief economist at the IMF.

Criticism of Osbornomics is not something that Red Ed, Ed Balls and hairy lefties (predictably) do, along with the often misguided or misled majority

Whatever else, the objection to an economy continuing to stumble along the bottom leaving a wide gap with potential ouptut, is not just the unemployment and social misery inflicted, lost GDP is lost forever.

> Michael Foot had a bigger lead two years before the ’83 election

Then all Cameron needs is to fight a successful war and get a huge oil windfall in the next two years. Should be a piece of cake.

After Ed’s train wreck of an interview I wouldn’t bet on Labour’s plan being any better.

Oh, and a split in the Labour Party of course.

Deliver Us From This Evil in 2015 !

Enough has been written in the press by informed and knowldgeable economic commentators for Cameron – and Clegg – to know that the austerity policies of Osborne and Alexander are failing and failing badly.

Britain’s economy is not recovering from the consequences of the financial crisis. Government borrowing in the last financial year was virtually the same as the year before. Two credit rating agencies have stripped Britain of its three-star rating. On the last count, unemployment was rising. We await the report on business investment for the first quarter of 2013 to see whether it is falling, as it was in the final quarter of last year.

None of that summary is seriously disputable. Osborne and Alexander have go – their austerity policies have failed to deliver on the benefits claimed for their policies.

The economy has stagnated – GDP is below what it was at the onset of the crisis at the beginning of 2008, inflation is running above the Bank of England’s target, average real living standards are back at the levels of 2003, employment prospects are uncertain and bank lending to business is down. The performance of Britain’s economy is worse than that of almost all other G20 economies.

It has become a matter of political integrity for Cameron and Clegg to recognise the extent of the policy failure and to appoint a new chancellor.

Once chink of light in an otherwise lacklustre poll for Labour.

“there is better news for the Conservatives in the party ratings. They have cut Labour’s 10–point lead to six points since the last ComRes survey for this newspaper a month ago. Labour is now on 38 per cent (no change); the Conservatives on 32 per cent (up four points); Ukip still in third place on 13 per cent (down one point); the Lib Dems on 9 per cent (down three points) and other parties on 8 per cent (no change)”

So no change for Labour after all the hard work campaigning.

I’ve long been a floating voter so what concerns me is to get Britain’s economy moving again and out of the stagnation that Osbornomics has created. So far, there are no encourging signs and two years is a long time to the next general election.

According to this source on 3 April, British companies are currently sitting on a pile of cash balances:

“Official statistics reveal that UK non-financial corporate cash balances stood at £671bn on the most recently available figures, around 46 per cent of national income, substantially higher than the £240bn in 2002.”

Evidently, funds are not constraining business investment, which was down in the final quarter of 2012, so it must be lack of confidence about market demand. The issue is what does the coalition government intend to do about that in addition to the attempts to divert attention by the media attacks on Miliband and Labour?

Sunny, have you actually read the article you cite?
Tories 32% UKIP 13%, LibDems 9% – that adds up to 54% versus 38% for Labour
If Labour get a majority with far fewer votes than the Coalition (Blair won in 2005 with 35%, less than Cameron alone got in 2010 thanks to their passing legislation to distort constituency size in their favour) – it will lack legitimacy. Clegg’s childishness in blocking reform will rebound on the LibDems and we could have Liam Fox as PM in 2020.

11. Weed Killa

You think the thousands of hospital MURDERS were just a ‘mistake’

They were policy

– Govt policy is working but AGAINST YOU!

@ #11 Weed Killa
I presume you mean the policy of the government in power at that time – New Labour!

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