PMQs review: Miliband the radical outplays Cameron

The PM is still in the wrong place on the banking scandal.

The hope among the Tories is that the Libor scandal could yet prove more damaging for Labour than for them. But today's PMQs suggests they are likely to be disappointed. The endless argument between Ed Miliband and David Cameron over which party was more committed to "light-touch regulation" matters less than who is seen as toughest on the banks now. 

Today, Cameron's continuing refusal to establish a judge-led inquiry allowed the Labour leader to play the radical. The key moment came when he said of Cameron, "whenever a scandal breaks, he's slow to act and he stands up for the wrong people". One of the poll findings that most troubles Conservative strategists is the public perception that they are far too close to the banks. Yet Cameron has missed another opportunity to rebut this perception. Miliband's declaration that the Tories are a party "bank-rolled by the banks" will resonate with voters.

Cameron seemed oddly underprepared for Labour's attack, ending his exchange with Miliband with the weak quip: "we've found the Higgs Boson particle. But Labour haven't still found a sense of shame." He can continually remind the public that Labour was too close to the banks but this won't alter the perception that he's in the wrong place now. Cameron eventually resorted to the argument that Labour opposes a parliamentary inquiry because it doesn't want its "dirty washing aired in public". If so, why does it support a full judicial inquiry? There was no one left to ask him.

The other notable thing about today's PMQs was how subdued Ed Balls seemed, his heckles muted, his gestures weak. The Tories will hope and Labour will fear that he was preoccupied with his alleged role in the Libor scandal.

Ed Miliband said Cameron was "slow to act and stands up for the wrong". Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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“Trembling, shaking / Oh, my heart is aching”: the EU out campaign song will give you chills

But not in a good way.

You know the story. Some old guys with vague dreams of empire want Britain to leave the European Union. They’ve been kicking up such a big fuss over the past few years that the government is letting the public decide.

And what is it that sways a largely politically indifferent electorate? Strikes hope in their hearts for a mildly less bureaucratic yet dangerously human rights-free future? An anthem, of course!

Originally by Carly You’re so Vain Simon, this is the song the Leave.EU campaign (Nigel Farage’s chosen group) has chosen. It is performed by the singer Antonia Suñer, for whom freedom from the technofederalists couldn’t come any suñer.

Here are the lyrics, of which your mole has done a close reading. But essentially it’s just nature imagery with fascist undertones and some heartburn.

"Let the river run

"Let all the dreamers

"Wake the nation.

"Come, the new Jerusalem."

Don’t use a river metaphor in anything political, unless you actively want to evoke Enoch Powell. Also, Jerusalem? That’s a bit... strong, isn’t it? Heavy connotations of being a little bit too Englandy.

"Silver cities rise,

"The morning lights,

"The streets that meet them,

"And sirens call them on

"With a song."

Sirens and streets. Doesn’t sound like a wholly un-authoritarian view of the UK’s EU-free future to me.

"It’s asking for the taking,

"Trembling, shaking,

"Oh, my heart is aching."

A reference to the elderly nature of many of the UK’s eurosceptics, perhaps?

"We’re coming to the edge,

"Running on the water,

"Coming through the fog,

"Your sons and daughters."

I feel like this is something to do with the hosepipe ban.

"We the great and small,

"Stand on a star,

"And blaze a trail of desire,

"Through the dark’ning dawn."

Everyone will have to speak this kind of English in the new Jerusalem, m'lady, oft with shorten’d words which will leave you feeling cringéd.

"It’s asking for the taking.

"Come run with me now,

"The sky is the colour of blue,

"You’ve never even seen,

"In the eyes of your lover."

I think this means: no one has ever loved anyone with the same colour eyes as the EU flag.

I'm a mole, innit.