George Osborne attends a press conference at the French Economy Ministry in Paris on April 28, 2014. Photograph: Getty Images.
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Osborne's speech is also an attack on Tory EU withdrawalists

The Chancellor's denouncement of those who want to "pull up the drawbridge and shut Britain off from the world" applies to a significant number in his own party.

George Osborne will not mention Ukip by name in his speech to the CBI today, but it will be clear that he has them in mind when he says:

Political parties on the left and the populist right have this in common: they want to pull up the drawbridge and shut Britain off from the world.

They want to constrain foreign investment in our economy, and deprive us of the British jobs that it has created in industries from car manufacturing to energy. They want to set prices, regulate incomes, impose rent controls, wage war on big business, demonise wealth creation, renationalise industries — and pretend that they can re-establish control over all aspects of the economy.

The Chancellor's attacks on Labour are nothing new (although as a supposed friend of the minimum wage it's odd to hear him denounce Ed Miliband for wanting to "regulate incomes") but more striking is his decision to brand Nigel Farage's party a threat to the economy. In a direct echo of Nick Clegg's language, he denounces Ukip's support for immediate EU withdrawal as an attempt to "pull up the drawbridge and shut Britain off from the world". 

Europhiles will note the irony that it is Osborne's party that has threatened the UK's EU membership by pledging to hold an in/out referendum by 2017. In his interview on Today on Monday, Miliband described the possibility of withdrawal as "the biggest threat to prosperity". Many businesses are far more worried by the Tories' euroscepticism than they are by Labour's proposed energy price freeze or the reintroduction of the 50p tax rate. Martin Sorrell recently revealed that he and others had told David Cameron that "if he were to drop the referendum he would be a shoo-in". That's almost certainly not the case (as Sorrell appeared to forget, most voters support a referendum) but it shows how desperate businesses are for Britain to remain in the EU. 

To this, Osborne would reply that it is only by renegotiating the UK's relationship with Brussels that the government can preserve its membership. As he argued in his recent speech to Open Europe: "If you cannot protect the collective interests of non-eurozone member states, then they will have to choose between joining the eurozone, which the UK will not do, or leave the European Union...I believe it is in no-one's interests for Britain to come to face a choice between joining the euro or leaving the European Union. We don't want to join the euro, but also our withdrawal from a Europe which succeeded in reforming would be bad for Britain. And a country of the size and global reach of Britain leaving would be very bad for the European Union."

But if Osborne is committed to reforming the EU, his contempt for those who favour automatic withdrawal ("they want to pull up the drawbridge and shut Britain off from the world") is also clear. And that is not just an attack on Ukip but on a significant number in his own party. That, in turn, suggests that Osborne is confident that he'll be in government after 2015, potentially as Foreign Secretary, rather than wooing EU opponents in a Conservative leadership election. 

George Eaton is political editor of the New Statesman.

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Why it's a mistake to assume that Jeremy Corbyn has already won

The shadow chief secretary to the Treasury on why the race to be Labour's leader is far from over.

They think it’s all over.

But they’re wrong.

The fat lady has yet to sing.

The commentary and reporting around the Labour party leadership campaign has started to assume we have a winner already in Jeremy Corbyn. The analysis, conjecture, predictions/complete guesswork about what happens next has begun in earnest. So we have seen speculation about who will be appointed to a Corbyn shadow cabinet, and “meet the team” pieces about Jeremy’s backroom operation.

Which is all very interesting and makes for the usual Westminster knockabout of who might be up and who might be going in the other direction pdq...

But I think it’s a mistake to say that Jeremy has already won.

Because I hear that tens of thousands of Labour party members, affiliates and registered supporters are yet to receive their ballot papers. And I am one of them. I can’t remember the last time I checked my post quite so religiously! But alas, my papers are yet to arrive.

This worries me a bit about the process. But mostly (assuming all the remaining ballots finally land in enough time to let us all vote) it tells me that frankly it’s still game on as far as the battle to become the next leader of the Labour party is concerned.

And this is reinforced when we consider the tens of thousands who have apparently received their papers but who have yet to vote. At every event I have attended in the last couple of weeks, and in at least half of all conversations I have had with members across the country, members are still making their minds up.

This is why we have to continue fighting for every vote until the end – and I will be fighting to get out every vote I possibly can for Yvette Cooper.

Over the campaign, Yvette has shown that she has a clear vision of the kind of Britain that she wants to see.

A Britain that tackles head-on the challenges of globalisation. Instead of the low-wage low-skill cul-de-sac being crafted by the Tories, Yvette's vision is for 2m more high skill manufacturing jobs. To support families she will prioritise a modern childcare system with 30 hours of fully funded child care for all 3 and 4 year olds and she will revive the bravery of post war governments to make sure 2m more homes are built within ten years.

It's an optimistic vision which taps into what most people in this country want. A job and a home.

And the responses of the focus groups on Newsnight a few days ago were telling – Yvette is clearly best placed to take us on the long journey to the 2020 general election by winning back former Labour voters.

We will not win an election without winning these groups back – and we will have to move some people who were in the blue column this time, to the red one next time. There is no other way to do it – and Yvette is the only person who can grow our party outwards so that once again we can build a winning coalition of voters across the country.