Bright's Blog: Economy 2008

Darling holds his nerve

So the government has ripped up the new Labour rule-book with a return to redistributive taxation, nationalisation and work-creation schemes. The same spinners who once laid burnt offerings at the feet of the gods of the free market now sing the praises of state intervention.

In this world turned upside down, one government figure has been consistent in his reading of the situation. From the early summer, Alistair Darling has ... read more

Prime Minister's Questions has been increasing in volume recently, making me think that parliament is already in election mode.

But even the most hostile recent Brown-Cameron exchanges were as nothing compared to the atmosphere surrounding this afternoon's pre-Budget report.

Alistair Darling began very low-key, almost sotto voce to early chortles about his claims that the government was "living within our means".

But the jeers began in earnest ... read more

The travelling man

During the Labour party conference in September, one big beast was doing the rounds of the parties with a plan for Gordon Brown. First, the Prime Minister should fall on his sword for the greater good of the party. It was then necessary, according to this former cabinet minister, for the party to find a role for Brown travelling the world, talking to international economic experts. "There is no one ... read more

Why I'm on the outside

Something very odd is happening. People have started joining the Labour Party again. It's a trickle rather than a torrent, but around 1,000 people a month are now being recruited. Although the trend in membership is still down, party officials are delighted that the rate of decline appears to be slowing. Many are lapsed members returning to the faith. There has been a decided upturn since the Labour party conference ... read more

We were warned

Credit where credit is due - and you have to say that a £37bn injection of cash into high-street banks is one shedload of credit - Gordon Brown has had a good autumn. There is a year between Brown's darkest night as Prime Minister when he called off "the election that never was" (Friday 5 October 2007) and the announcement of the government's part-nationalisation of the banking system (Wednesday 8 ... read more

Out of the bunker

At a time of national crisis, it seemed there was only one man with the experience and steadfastness of purpose to see us through these dark times. This had been the mantra since Gordon Brown's Manchester speech and, as the economy unravelled, it was beginning to gain purchase. It's spin. Of course it is. But there is a time and a place for propaganda, as the cabinet's latest addition, Peter ... read more

First it was going to be the green Budget. Then it was the anti-booze Budget, next the steady-as-she-goes Budget and, just at the last moment, the child poverty Budget. Budgets these days have to be all things to all people, or at least most things to as many people as possible. With a growing political consensus over the priorities of government, this would have been true even if it had ... read more