Osborne to borrow more than Labour was projected to

Chancellor forecast to borrow £19bn more than the Brown government was expected to.

George Osborne rattled through the OBR's borrowing forecasts in his autumn statement - and with good reason. They show that, as a result of lower growth and higher unemployment, he will be forced to borrow £158bn more than forecast a year ago. Even more strikingly, Osborne is now set to borrow £19bn more than Labour was projected to (see Table 4.5 on p. 38 of the OBR's June 2010 release). With glorious irony, the national debt will now be higher under the coalition (78 per cent of GDP in 2014-15) than it would have been under Labour (74 per cent of GDP).

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Labour's smart line of attack is that while Osborne is borrowing to meet the cost of unemployment, they would have borrowed to fund growth.

It's true that external factors may well have forced a Labour chancellor to borrow more than forecast but here's the question Osborne and his allies will have to answer: why aren't the bond markets panicking? They claimed that borrowing a billion more than planned would take Britain to the "brink of bankruptcy". But the fact that Osborne is set to borrow a huge £158bn more than forecast in November 2010 shows this up as the myth it always was.

George Eaton is political editor of the New Statesman.

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Owen Smith apologises for pledge to "smash" Theresa May "back on her heels"

The Labour leader challenger has retracted his comments. 

Labour leader challenger Owen Smith has apologised for pledging to "smash" Theresa May "back on her heels", a day after vigorously defending his comments.

During a speech at a campaign event on Wednesday, Smith had declared of the prime minister, known for wearing kitten heels:

"I'll be honest with you, it pained me that we didn’t have the strength and the power and the vitality to smash her back on her heels and argue that these our values, these are our people, this is our language that they are seeking to steal.”

When pressed about his use of language, Smith told journalists he was using "robust rhetoric" and added: "I absolutely stand by those comments."

But on Thursday, a spokesman for the campaign said Smith regretted his choice of words: "It was off script and on reflection it was an inappropriate choice of phrase and he apologises for using it."

Since the murder of the MP Jo Cox in June, there has been attempt by some in politics to tone down the use of violent metaphors and imagery. 

Others though, have stuck with it - despite Jeremy Corbyn's call for a "kinder, gentler politics" his shadow Chancellor, John McDonnell, described rebel MPs as a "lynch mob without the rope"

Smith's language has come under scrutiny before. In 2010, when writing about the Tory/Lib-Dem coalition, he asked: "Surely, the Liberal will file for divorce as soon as the bruises start to show through the make-up?"

After an outcry over the domestic violence metaphor, Smith edited the piece.