Lord Ashcroft at the Conservative conference in 2012. Photograph: Getty Images.
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Lord Ashcroft marginals poll shows Labour would win "comfortable majority"

Survey of 26,000 voters suggests Tories would lose 83 MPs with swing of 6.5 per cent to Labour.
 

After yesterday's mixed local election results, which suggested that Labour would merely become the single largest party if they were replicated nationally (not a good position for an opposition to be in a year before a general election), Lord Ashcroft's super poll of marginal seats has raised spirits in the party. The survey of 26,000 voters in 26 Conservative-Labour battlegrounds found a swing of 6.5 per cent to Labour - "enough to topple 83 Tory MPs and give Ed Miliband a comfortable majority".

It's important to remember that this is a snapshot, not a prediction. In October 2009, a similar poll suggested the Tories would win a majority of 70. Just seven months later, they didn't win one at all. But thanks to the defection of Lib Dem voters to Labour and the defection of Tory voters to Ukip, Ed Miliband is in a strong position to become prime minister. The swing achieved by Labour in the marginals (6.5 per cent) is greater than the national average (5.5 per cent), supporting Labour's boast that it is "winning voters where it matters" (as it did in 2010 when it won a 1992 share of seats on a 1983 share of the vote).

Less happily for the party, the poll also found that just three in ten voters would rather see Miliband as prime minister than Cameron, and that nearly seven in ten trust Cameron and Osborne most to run the economy. History suggests that a significant number of this group will return to the Conservative fold once faced with the task of electing a national government, rather than expressing a fleeting opinion. But as I've argued before, the rise of Ukip and the collapse of the Lib Dems means the past may be a less useful guide to the next general election than any other.

Based on Ashcroft's findings, the Tories should abandon any lingering hope they have of winning a majority and recognise the struggle they will face merely to remain the largest party.

Here's how Douglas Alexander, Labour's general election strategy chair, has responded: "Lord Ashcroft's poll confirms that we are making real progress in seats where we need to do well and that Labour can win next year's General Election. In the year ahead we will continue to show how we can make a difference to people's lives and engage directly with voters conversation by conversation, doorstep by doorstep.”

George Eaton is political editor of the New Statesman.

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In your 30s? You missed out on £26,000 and you're not even protesting

The 1980s kids seem resigned to their fate - for now. 

Imagine you’re in your thirties, and you’re renting in a shared house, on roughly the same pay you earned five years ago. Now imagine you have a friend, also in their thirties. This friend owns their own home, gets pay rises every year and has a more generous pension to beat. In fact, they are twice as rich as you. 

When you try to talk about how worried you are about your financial situation, the friend shrugs and says: “I was in that situation too.”

Un-friend, right? But this is, in fact, reality. A study from the Institute for Fiscal Studies found that Brits in their early thirties have a median wealth of £27,000. But ten years ago, a thirty something had £53,000. In other words, that unbearable friend is just someone exactly the same as you, who is now in their forties. 

Not only do Brits born in the early 1980s have half the wealth they would have had if they were born in the 1970s, but they are the first generation to be in this position since World War II.  According to the IFS study, each cohort has got progressively richer. But then, just as the 1980s kids were reaching adulthood, a couple of things happened at once.

House prices raced ahead of wages. Employers made pensions less generous. And, at the crucial point that the 1980s kids were finding their feet in the jobs market, the recession struck. The 1980s kids didn’t manage to buy homes in time to take advantage of low mortgage rates. Instead, they are stuck paying increasing amounts of rent. 

If the wealth distribution between someone in their 30s and someone in their 40s is stark, this is only the starting point in intergenerational inequality. The IFS expects pensioners’ incomes to race ahead of workers in the coming decade. 

So why, given this unprecedented reversal in fortunes, are Brits in their early thirties not marching in the streets? Why are they not burning tyres outside the Treasury while shouting: “Give us out £26k back?” 

The obvious fact that no one is going to be protesting their granny’s good fortune aside, it seems one reason for the 1980s kids’ resignation is they are still in denial. One thirty something wrote to The Staggers that the idea of being able to buy a house had become too abstract to worry about. Instead:

“You just try and get through this month and then worry about next month, which is probably self-defeating, but I think it's quite tough to get in the mindset that you're going to put something by so maybe in 10 years you can buy a shoebox a two-hour train ride from where you actually want to be.”

Another reflected that “people keep saying ‘something will turn up’”.

The Staggers turned to our resident thirty something, Yo Zushi, for his thoughts. He agreed with the IFS analysis that the recession mattered:

"We were spoiled by an artificially inflated balloon of cheap credit and growing up was something you did… later. Then the crash came in 2007-2008, and it became something we couldn’t afford to do. 

I would have got round to becoming comfortably off, I tell myself, had I been given another ten years of amoral capitalist boom to do so. Many of those who were born in the early 1970s drifted along, took a nap and woke up in possession of a house, all mod cons and a decent-paying job. But we slightly younger Gen X-ers followed in their slipstream and somehow fell off the edge. Oh well. "

Will the inertia of the1980s kids last? Perhaps – but Zushi sees in the support for Jeremy Corbyn, a swell of feeling at last. “Our lack of access to the life we were promised in our teens has woken many of us up to why things suck. That’s a good thing. 

“And now we have Corbyn to help sort it all out. That’s not meant sarcastically – I really think he’ll do it.”