Without the boundary changes, a Tory majority is impossible

Cameron's party would need a lead of 11 points to win without the changes.

There is no guarantee that the Lib Dems will vote down the planned boundary changes in retaliation for the abandonment of House of Lords reform. Contrary to what some claim, no link was made between the policies in the coalition agreement (the AV referendum was the quid pro quo for the boundary changes) and Nick Clegg has previously told MPs that "there can be no justification for maintaining the current inequality between constituencies and voters across the country." This is a powerful position from which to argue that the Lib Dems should not renege on the agreement.

If, however, Clegg vetoes the bill, the final version of which is not due to reach parliament until 2013, who benefits? The most obvious answer is Labour. Without the boundary changes, Miliband's party only needs a lead of three points (on a uniform swing) to win a majority, compared with one of four points under the new constituencies. Conversely, the Tories, who would need a lead of seven points with the changes, would need a lead of 11 points without them.

The reason Labour retain their electoral advantage is that the electoral bias towards the party owes more to differential turnout (fewer people tend to vote in Labour constituencies) and regional factors (the Tory vote is poorly distributed) than it does to unequal constituencies (the coalition plans to fix constituency sizes at around 76,000 voters).

As I've argued before, even if the boundary changes are implemented, the odds are against a Tory majority in 2015. No sitting prime minister has increased their party's share of the vote since 1974, and Cameron is failing to make progress among those groups that refused to support him last time round. But if the boundary changes are abandoned, it is no exaggeration to say that a Tory majority, difficult to achieve at present, becomes impossible. For this reason, it is no surprise that Cameron is determined to push ahead with the bill.

David Cameron waits to greet Russian President Vladimir Putin outside 10 Downing Street. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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The 5 things the Tories aren't telling you about their manifesto

Turns out the NHS is something you really have to pay for after all. 

When Theresa May launched the Conservative 2017 manifesto, she borrowed the most popular policies from across the political spectrum. Some anti-immigrant rhetoric? Some strong action on rip-off energy firms? The message is clear - you can have it all if you vote Tory.

But can you? The respected thinktank the Institute for Fiscal Studies has now been through the manifesto with a fine tooth comb, and it turns out there are some things the Tory manifesto just doesn't mention...

1. How budgeting works

They say: "a balanced budget by the middle of the next decade"

What they don't say: The Conservatives don't talk very much about new taxes or spending commitments in the manifesto. But the IFS argues that balancing the budget "would likely require more spending cuts or tax rises even beyond the end of the next parliament."

2. How this isn't the end of austerity

They say: "We will always be guided by what matters to the ordinary, working families of this nation."

What they don't say: The manifesto does not backtrack on existing planned cuts to working-age welfare benefits. According to the IFS, these cuts will "reduce the incomes of the lowest income working age households significantly – and by more than the cuts seen since 2010".

3. Why some policies don't make a difference

They say: "The Triple Lock has worked: it is now time to set pensions on an even course."

What they don't say: The argument behind scrapping the "triple lock" on pensions is that it provides an unneccessarily generous subsidy to pensioners (including superbly wealthy ones) at the expense of the taxpayer.

However, the IFS found that the Conservatives' proposed solution - a "double lock" which rises with earnings or inflation - will cost the taxpayer just as much over the coming Parliament. After all, Brexit has caused a drop in the value of sterling, which is now causing price inflation...

4. That healthcare can't be done cheap

They say: "The next Conservative government will give the NHS the resources it needs."

What they don't say: The £8bn more promised for the NHS over the next five years is a continuation of underinvestment in the NHS. The IFS says: "Conservative plans for NHS spending look very tight indeed and may well be undeliverable."

5. Cutting immigration costs us

They say: "We will therefore establish an immigration policy that allows us to reduce and control the number of people who come to Britain from the European Union, while still allowing us to attract the skilled workers our economy needs." 

What they don't say: The Office for Budget Responsibility has already calculated that lower immigration as a result of the Brexit vote could reduce tax revenues by £6bn a year in four years' time. The IFS calculates that getting net immigration down to the tens of thousands, as the Tories pledge, could double that loss.

Julia Rampen is the digital news editor of the New Statesman (previously editor of The Staggers, The New Statesman's online rolling politics blog). She has also been deputy editor at Mirror Money Online and has worked as a financial journalist for several trade magazines. 

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