Ed Miliband stands with his director of communications Bob Roberts as he waits to give an early morning television interview at the Labour conference in Brighton. Photograph: Getty Images.
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Confident Miliband passes the Today programme test

Unlike on previous occasions, when he has struggled to flesh out the meaning of his cerebral speeches, the Labour leader has signature policies that he is prepared to defend.

After the conservative press responded to Ed Miliband's pledge to freeze energy prices until 2017 by branding him as a 1970s-style socialist and the energy companies warned of power blackouts, the Labour leader was called for the defence on the Today programme this morning.

To the former charge, he argued persuasively that it was Labour that was "the pro-competition party, the pro-market party" because it wanted "markets to succeed, not fail" by working "in the public interest". To the latter, he said that on "any reasonable scenario", the companies would be able to cope, implying that they were resorting to scare tactics. He conceded, however, that in the event of major price shocks, "companies could make their case to the government."

On the danger of firms hiking prices in advance of the election in order maximise their profits, he replied: "we will make sure that this is a genuine freeze and we will take action to make sure that happens." That implies that Labour would seek to peg prices to their 2014 level were companies to raise prices in 2015. Milband added that the freeze would not be extended beyond 2017 because he expected to have "reformed the energy market" by then.

One important test of a conference speech is whether it can withstand scrutiny the following day and Miliband ably cleared that hurdle this morning. Unlike on previous occasions, when he has struggled to flesh out the meaning of his cerebral addresses, he came armed with signature policies that he was prepared to argue for. He has also adopted a notably softer and more measured speaking style.

By taking on the energy companies, Miliband is confident that he has picked a battle that can only have political benefits. In highlighting threats of blackouts from the sector, Tory MPs have walked straight into his trap by appearing to side with the companies over the consumers. Labour is confident that voters will agree that, in Miliband's words, "the fundamental problem at the heart of the market is that wholesale prices go up and people pay more, and wholesale prices go down and people still pay more."

George Eaton is political editor of the New Statesman.

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Why the Labour rebels have delayed their leadership challenge

MPs hope that Jeremy Corbyn may yet resign, while Owen Smith is competing with Angela Eagle to be the candidate.

The Eagle has hovered but not yet landed. Yesterday evening Angela Eagle's team briefed that she would launch her leadership challenge at 3pm today. A senior MP told me: "the overwhelming view of the PLP is that she is the one to unite Labour." But by this lunchtime it had become clear that Eagle wouldn't declare today.

The delay is partly due to the hope that Jeremy Corbyn may yet be persuaded to resign. Four members of his shadow cabinet - Clive Lewis, Rachel Maskell, Cat Smith and Andy McDonald - were said by sources to want the Labour leader to stand down. When they denied that this was the case, I was told: "Then they're lying to their colleagues". There is also increasing speculation that Corbyn has come close to departing. "JC was five minutes away from resigning yesterday," an insider said. "But Seumas [Milne] torpedoed the discussions he was having with Tom Watson." 

Some speak of a potential deal under which Corbyn would resign in return for a guarantee that an ally, such as John McDonnell or Lewis, would make the ballot. But others say there is not now, never has there ever been, any prospect of Corbyn departing. "The obligation he feels to his supporters is what sustains him," a senior ally told me. Corbyn's supporters, who are confident they can win a new leadership contest, were cheered by Eagle's delay. "The fact even Angela isn't sure she should be leader is telling, JC hasn't wavered once," a source said. But her supporters say she is merely waiting for him to "do the decent thing". 

Another reason for the postponement is a rival bid by Owen Smith. Like Eagle, the former shadow work and pensions secrtary is said to have collected the 51 MP/MEP nominations required to stand. Smith, who first revealed his leadership ambitions to me in an interview in January, is regarded by some as the stronger candidate. His supporters fear that Eagle's votes in favour of the Iraq war and Syria air strikes (which Smith opposed) would be fatal to her bid. 

On one point Labour MPs are agreed: there must be just one "unity candidate". But after today's delay, a challenger may not be agreed until Monday. In the meantime, the rebels' faint hope that Corbyn may depart endures. 

George Eaton is political editor of the New Statesman.