PMQ review: Cameron wriggles free from Miliband's intellectual attack

The Labour leader accused the Tories of an "intellectual collapse" after their U-turn on payday loans but as Cameron knows, the wise Conservative travels light.

Ed Miliband arrived at today's PMQs with the confidence of a man who believes that he is winning the argument. In Labour's view, the coalition's U-turn over a payday loan cap symptomises the Tories' complete confusion over how to respond to his interventionist agenda. Miliband began by quipping that Cameron had moved in two months from believing that intervening in broken markets is "living in a Marxist universe" to regarding it as a "solemn duty of government". Confronted by this charge, Cameron replied that the government had acted after 13 years in which Labour had done "absolutely nothing" before joking, in reference to Miliband's Desert Island Discs appearance (and his choice of Robbie Williams's "Angels"), "I think it's fair to say he's no longer a follower of Marx...he's loving Engels instead" (a line lifted from Twitter).

In a competitive field, it was the most egregious PMQs joke in recent history but it still was enough to throw Miliband off balance as he rather humorlessly replied: "You’d have thought he’d be spending his time trying to be prime minister." After that, Miliband never quite managed to pin Cameron down, despite the coalition's shameless volte-face. Rather than asking Cameron whether the payday loan U-turn was motivated by the possibility of defeat in the House of Lords (it was, so he ignored the question), it might have been better for him simply to ask why the coalition had decided to adopt a cap after repeatedly voting against it last year. His attack on the Tories' "intellectual collapse" is a line that will resonate with op-ed writers but it's likely to prove less effective with the public who, as Raf noted yesterday, rarely look to governments for ideological consistency. Like his Tory predecessors, Cameron knows that the wise Conservative travels light. When Miliband attempted to portray him as inconsistent for supporting a payday loan cap while opposing an energy price freeze, the PM replied that the two weren't comparable since "we don't have control of the international price of gas", a line that will undoubtedly resonate with some voters.

Miliband finished on a stronger note as he warned of rising deaths from cold weather (something that, combined with the A&E crisis, ministers fear could inflict significanct damage on the government) and, in revenge for Cameron's Tony McNulty quote last week, cited a tweet from Zac Goldsmith declaring that "if the PM can drop something so central to his identity, he can drop anything #greencrap" Miliband's line that "any action he takes on the cost of living crisis is because he’s been taken there kicking and screaming" was his strongest of the session. Cameron ended, as so often, by accusing Miliband of not wanting to talk about the economy. But as Labour's strategists will tell you, for most voters, living standards are the economy. Unless, and until, real wages begin to rise significantly for most earners (and perhaps not even then), Cameron will remain vulnerable on this territory. 

David Cameron attends the British curry awards at Battersea Evolution on November 25, 2013 in London. 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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