Ken takes the lead over Boris

New poll puts Livingstone ahead of Johnson in London mayoral race by 45 per cent to 43.

Don't bet against Red Ken returning to City Hall in 2012. The latest YouGov poll on the London mayoral race puts the Labour candidate ahead of Boris on first preferences by 45 per cent to 43. By contrast, an earlier poll published in October showed Boris ahead by 46 per cent to 44.

The significant support for Livingstone suggests that his age (he will turn 67 in June 2012) and his political baggage aren't necessarily barriers to his re-election. There are still other candidates to come, not least from the Greens and the Lib Dems, who could cut into Ken's vote, but this poll will reassure Labour that it made the right choice.

As on previous occasions, the result is almost certain to be determined by second-preference votes. Asked who they would rather have as mayor – a question that aims to reflect second preferences – voters still favour Boris by 45 per cent to 42, although his lead has narrowed from 5 points in October.

In the coming months we can expect Boris to do even more to try to differentiate himself from Cameron and Osborne. As I noted last week, growing opposition to the speed and scale of the coalition's cuts means Labour's poll lead has widened from 3-5 points to 7-9 points. Boris's challenge is to achieve what Ken could not and prove that national unpopularity is no barrier to local success.

George Eaton is political editor of the New Statesman.

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Iain Duncan Smith says what most Brexiters think: economic harm is a price worth paying

The former cabinet minister demonstrated rare candour by dismissing the "risks" of leaving the EU.

Most economists differ only on whether the consequences of Brexit would be terrible or merely bad. For the Leave campaign this presents a problem. Every referendum and general election in recent times has been won by the side most trusted to protect economic growth (a status Remain currently enjoys).

Understandably, then, the Brexiters have either dismissed the forecasters as wrong or impugned their integrity. On Tuesday it was the turn of the Institute for Fiscal Studies (IFS), one of the most revered bodies in Westminster. In response to its warning that Brexit would mean a further two years of austerity (with the hit to GDP wiping out George Osborne's forecast surplus), the Leave campaign derided it as a "paid-up propaganda arm of the European commission" (the IFS has received £5.6m from Brussels since 2009). 

The suggestion that the organisation is corrupt rightly provoked outrage. "The IFS - for whom I used to work - is not a paid up propaganda arm of the EU. I hope that clears that up," tweeted Brexit-supporting economist Andrew Lilico. "Over-simplified messaging, fear-mongering & controversialism are hard-minded campaigning. Accusing folk of corruption & ill intent isn't." The Remain campaign was swift to compile an array of past quotes from EU opponents hailing the IFS. 

But this contretemps distracted from the larger argument. Rather than contesting the claim that Brexit would harm the economy, the Leave campaign increasingly seeks to change the subject: to immigration (which it has vowed to reduce) or the NHS (which it has pledged to spend more on). But at an event last night, Iain Duncan Smith demonstrated rare candour. The former work and pensions secretary, who resigned from the cabinet in protest at welfare cuts, all but conceded that further austerity was a price worth paying for Brexit. 

"Of course there's going to be risks if you leave. There's risks if you get up in the morning ...There are risks in everything you do in life," he said when questioned on the subject. "I would rather have those risks that we are likely to face, headed off by a government elected by the British people [and] governing for the British people, than having a government that is one of 27 others where the decisions you want to take - that you believe are best for the United Kingdom - cannot be taken because the others don't agree with you."

For Duncan Smith, another recession is of nothing compared to the prize of freedom from the Brussels yoke. Voters still reeling from the longest fall in living standards in recent history (and who lack a safe parliamentary seat) may disagree. But Duncan Smith has offered an insight into the mindset of a true ideologue. Remain will hope that many more emulate his honesty. 

George Eaton is political editor of the New Statesman.