The Staggers

The New Statesman’s rolling politics blog

Tory MPs are losing patience with Osborne

The Chancellor's "disproportionate obsession" with Ed Balls comes under attack from his own side.

By George Eaton Published 06 July 2012 8:39

Chancellor George Osborne. Photograph: Getty Images.

One Tory MP said of George Osborne, "When are we going to get a Chancellor who is not part time?" Photograph: Getty Images.

At one point in The Godfather Part III, Michael Corleone sagely remarks: "Never hate your enemies. It affects your judgment." It was this lesson that George Osborne, as so often in his political career, forgot this week. After his aides were forced to "clarify" that he had never alleged that Ed Balls was personally involved in the Libor scandal (rather that he had "questions to answer", a distinction without a difference if ever there was one), opinion is hardening among Conservative MPs that the Chancellor has overreached himself.

In a fascinating piece in today's Times (£), Sam Coates and Roland Watson collate a series of off-the-record barbs from Tory backbenchers. One MP describes Osborne's obsession with the alleged role of Balls and "Whitehall sources" in the scandal as a "red herring", adding: "There was no smoking gun." Another opines: "People want us to sort out the effing banks, not worry about what Ed Balls might have said four years ago.” Osborne's dual role as Chancellor and chief Tory strategist is also called into question (the increasing view among Tory MPs is that he isn't good at either job). One MP comments: "When are we going to get a Chancellor who is not part time? You can’t run the sixth largest economy in the world with a mate-ocracy."

The irony is that Osborne's jihad against Balls was intended to restore his Budget-battered reputation. But the Chancellor's obsessive desire to pin the scandal on Labour meant that he missed an obvious truth: what matters most is who is seen to have the right policy now. In the eyes of the public, the Tories' refusal to sanction a judicial inquiry (something that enjoyed the support of 75 per cent of voters, according to YouGov) or to levy new taxes on the banks (Richard Reeves, Nick Clegg's outgoing director of strategy, tells today's Independent that the Lib Dems were pushing for a 10 per cent surcharge on bankers' bonuses) has confirmed their status as the political wing of the City of the London. As so often, Osborne, the man charged with constructing a Conservative majority, has achieved the reverse.

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Tags: George Osborne Conservatives

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31 comments

Thu, 2012-07-19 13:28 — Goji (not verified)

Nice article..... interesting.
Goji Goji fructe goji

Sun, 2012-07-08 16:31 — postageincluded

(Yes, I'm sorry, I know this is a serious article and all that but....)

"Osborne's jihad against Balls...."

Didn't he steal that idea from Andrea Dworkin?

Sun, 2012-07-08 13:03 — Jimminy-Wicket

Why are Osborne, Cameron, and Conservative in particular so afraid of an open, public, forensic judicial inquiry could it be because they were the recipients of huge donations from the City?

When Ed Balls was City Minister he was repeatedly and continually attacked by the City, Banks, and the Conservative Party for being too tough. The criticism came mainly from the then shadow Chancellor George Osborne and Mark Hoban the Financial Secretary.

If the Conservatives really did think that Ed Balls was to blame, one would assume they would relish any opportunity to have this debate in public, and scrutinised before a judge in a courtroom.

If Osborne is so sure Ed Balls prints are on this one would presuppose he would be anxious to see Balls exposed, or is Osborne afraid the truth will expose him?

Sat, 2012-07-07 17:55 — mandio (not verified)

hhhhhhhhhh lol

Sat, 2012-07-07 16:13 — Frankly2

Oh What a Tangled Web (Part 1):

http://tinyurl.com/bvf99b8

Oh What a Tangled Web (Part 2):

http://tinyurl.com/c7eprw9

Sat, 2012-07-07 15:57 — Indu Pendent

George
Do you think the Libor party manipulated Treasury forecasts to fix the numbers and mislead people on the capacity of the government to borrow? Or do you think it was just Ed Balls who did this on his own?

Sat, 2012-07-07 15:25 — Jimminy-Wicket

I am not surprised Osborne's colleagues are losing patience with him. This recent allegations against Balls will do his reputation no good as he could not back it up with proof. It made him look childish and very immature at the dispatch box.

Osborne is both jealous and afraid of Ed Balls's ability and he is in complete awe of him, this is the sole reason he is trying to conduct the same personal character assassination on Balls that he performed most successfully against against Gordon Brown. It will not materialise with Balls as Osborne is finding out to his cost!!

Sat, 2012-07-07 09:40 — Bill23 (not verified)

The labour party have a serious problem. Everybody in the country who is not a Labour supporter thinks he is a fool, a total ignoramus.
Are standards really so low in the party? and far will blind prejudice get you with an increasingly informed electorate.

Sat, 2012-07-07 11:08 — vince conroy (not verified)

Cannot make head nor tail of your comment. Is it Osborne or Balls who your saying is the ignoramus.

Sat, 2012-07-07 11:08 — vince conroy (not verified)

Cannot make head nor tail of your comment. Is it Osborne or Balls who your saying is the ignoramus.

Sat, 2012-07-07 11:36 — Bill23 (not verified)

I think you have made my point. You pays your money...

Sat, 2012-07-07 09:09 — hugh markey (not verified)

Certainly George can count on the fingers of only one hand - but has that ever held a Tory toff back? Do you recall Lord Home's matchbox? HIs Lordship almost heat that grammar school upstart - Wilson!
With the right connections George's progress up the greasy pole will continue. He'll make it to the top. He's almost there now.
Anyway, Balls is a swot. So's his wife. And George's advisers have PPEs coming out of their ******** but who's Chancellor? Yah!

Spoilt Brat

Fri, 2012-07-06 20:57 — Agent (not verified)

Hahahahahaha

Keep up the good work Mr Osborne.

Fri, 2012-07-06 15:19 — Earthling,unfortunately (not verified)

What good will pumping £375M into the economy do for the economy????? It's going to destroy it, that's what! What we need are jobs, jobs, jobs! People haven't got the money to go out there to spend, don't they realise that? It's going to send inflation skyhigh, and we'll soon be paying DOUBLE for what we could get only a few years ago! Already a £50 shop in 2009 is now £80. DOUBLE IN ONLY THREE YEARS! We need a Treasurer who knows what the heck he's doing, and a government, unless this is all a design by the big banks to bring us all to our knees.
They don't effing need us anymore. The signs are there. They're cutting the army down to miniscule, rounding up who's got weapons in the country (some paltry quibble about private dicks having guns - when have we ever heard of a gumshoe shootout?) because they don't want to get shot at when they roll the armoured cars down the street to microchip us all.. They've sequestered our police into some kind of militia to counteract terrorism, rigged an arrest just before the Games to 'remind' us all that we're still potentially at risk. Trying to stir things up, cause agitation. DON'T FALL FOR IT! SHUT THE TV OFF!
They're trying to rush through changing the Bank of England Constitution today in Parliament to give a few select people in government the chance to manipulate our monetary system. LEAVE IT ALONE! It's there to protect our money from individuals having control over it! It's unlawful to change it! Get the hell out of our government! You puppets of the world bankers. SACK the CABINET, I say!
They're desparate to get a war going in the Middle East. Trying to stir unrest by blaming Russia and China for not attending the meeting in Paris this week. It's all a set up, to try to con us into thinking there's a threat from that direction, when all people want to do is, co-exist and thrive. We're happy with our neighbours, and they don't like it. They don't want us to be happy. They want to get rid of us! About 6.5 billion of us! PEOPLE UNITE! SAY NO to war. SAY NO to changing our banking system. SAY NO to these fcukers!

Sat, 2012-07-07 13:27 — Bernard Gilroy (not verified)

80 up from 50 is an increase of 60%, not 100%. And things must be way worse in the UK than the US, because we've not seen anything like 60% inflation in that time period. Wait, I remember now. Neither have you. The "threat" of runaway hyperinflation is a myth used to justify the looting of the economy. In fact, right now, the world is suffering a demand-driven recession. Creating those "jobs, jobs, jobs" is exactly what calls for all that "pumping 375M" into the economy -- and a whole lot more.

Once the recovery accelerates, interest rates will begin to rise and it will be time to ease back. But until then, spending the money is the only way to make the money.

Fri, 2012-07-06 12:12 — Benjamin Rae (not verified)

Osborne hates Balls because he routinely eats him for breakfast in debates.
It's quite amusing watching them at times. Balls has a brain and Osborne has powerful friends. It's part of the reason Osborne hides whenever difficult questions are asked

Sat, 2012-07-07 09:34 — Bill23 (not verified)

How can you say that when everything he says in regard to economics is simply wrong.
How can you say that - are you his mother?

Sat, 2012-07-07 09:33 — Bill23 (not verified)

How can you say that when everything he says in regard to economics is simply wrong.
How can you say that - are you his mother?

Sat, 2012-07-07 12:08 — Benjamin Rae (not verified)

Not his mother, not even a Labour voter. Just can recognise someone with a brain and someone without.

Sat, 2012-07-07 12:28 — Bill23 (not verified)

What do you make of the fact that he seems to be ignorant of Bretton Woods, and the fact the the Dollar is the world currency.
Also the fact that increasing non-jobs in the public sector won't help the GDP in any meaningful way.

There were many raised eybrows among journalists, maybe you could explain to them also, it's not just me, or the conservatives.

Sat, 2012-07-07 16:33 — Benjamin Rae (not verified)

Are you seriously trying to tell me Osborne has a better grasp of economics than Balls? There are plenty of Conservatives who think he's a disaster area as chancellor never mind those who take a different view to his simplistic monetarism. Look at that budget. It was ridiculous and he's near enough admitted it himself.
Balls has a real background in theory and policy formulation. Osborne has a 2:1 in Modern History and a career as an advisor to the likes of Michael Howard. Not to mention the gem 'paying back the nations credit card'.
How anybody with an understanding of government debt could say that with a straight face is beyond me. He either doesn't understand it himself or has complete contempt for the electorate

Sat, 2012-07-07 18:37 — Bill23 (not verified)

Yes we should have told the banks where to stick it; but both Balls and Osbourne are at odds with all serious economists. Frankly I dont know if there is anybody in the Westminster village who is qualified!

Fri, 2012-07-06 12:02 — Tim Mann

Or when can we have a Chancellor who knows something about economics? Who knows you have to borrow to invest to create jobs. Who knows the banks would have done the same if the Tories had been in power. Who knows he and Cameron hadn't a clue what to do when the banks crashed and Brown and Darling did. And so on...

Fri, 2012-07-06 10:41 — frances smith

perhaps balls reminds osborne of a figure from his past, and he is, in reality, fighting an old battle.

no idea of course, only guessing.

Fri, 2012-07-06 11:29 — ToryWatcher (not verified)

Hmmm, that old adversary is probably still around and higher up the food chain than Ozzie.

Fri, 2012-07-06 09:52 — Celeriac (not verified)

Osborne demonstrates the classic defensive behaviour of those who are chronically under-qualified for their jobs.

Fri, 2012-07-06 11:12 — kenelmist (not verified)

Very true.

Fri, 2012-07-06 09:39 — Steve AM (not verified)

Osborne is afraid of Balls. As chief strategist he aimed a lot of resources at the Morley and Outwood seat to try and stop Balls from being elected because Osborne knew he would be facing Balls at the dispatch box.

Fri, 2012-07-06 08:53 — Barrie J (not verified)

One Tory MP said of George Osborne, "When are we going to get a Chancellor who is not part time?"

Judging by our country's parlous financial position one might ask when are we going to get a government that is anything other than a gothic shed load of worthless, corrupt, self serving parasites?