Ed Miliband speaks with David Cameron before listening to Angela Merkel addressing both Houses of Parliament on February 27, 2014. Photograph: Getty Images.
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Why the odds still favour Labour with a year to go

In Westminster, it is seats that count. And Miliband's party is still best-placed to win the most. 

Talk to Labour and Tory MPs and it is easy to forget that somebody has to win the general election a year today. Members on both sides are resolutely pessimistic about their side's chances. All they agree on is that, in the words of one Labour source, "it's going to be bloody close". 

After the recent narrowing of the polls, with Labour's average lead down to four points, senior Conservatives are increasingly confident of at least remaining the single largest party next May. But this hope collides with the reality that, though ever-smaller, the opposition's stubborn advantage remains. Not since March 2012, in advance of the omnishambles Budget, have the Conservatives led in an opinion poll. 

Were Labour to win by a single point next year (the party's lead in two surveys today), Ed Miliband would almost certainly become prime minister. In 2005, with a vote share of just 35 per cent and a lead of just three points, his party achieved a majority of 66 seats. Five years later, the Tories fell short with a lead of seven. This apparent bias has less to do with the unreformed constituency boundaries than it does with the fact that Labour's vote is far better distributed than the Tories' and that it benefits disproportionately from tactical voting. 

Uniform swing calculations can, of course, be an unreliable guide to election outcomes, failing to take into account factors such as the incumbency bonus and above-average swings in marginal seats. Had there been a uniform swing in 2010, the Conservatives would have won 14 fewer seats, Labour eight more and the Lib Dems five more. But even if, as seems likely, the Tories perform disproportionately well in their existing seats, Miliband has a good chance of retaining the lead he needs to win. Crucially for Labour, polling by Lord Ashcroft suggests that it is winning an above-average swing in its target constituencies. One possibility increasingly discussed in Westminster is that the Tories win the most votes, while Labour wins the most seats (an outcome last seen in February 1974). 

The Tories' fortunes are likely to improve as the economic recovery accelerates and as Labour comes under ever-greater scrutiny. But as long as Miliband retains parity with the Conservatives, he has reason to hope. One of the key points in Labour's favour is the unusually low level of switching between the two main parties (just 5 per cent of 2010 Tory voters currently back Labour), with most of the increase in its vote share due to Lib Dem defectors. Unlike in the past, this means that falling support for Labour doesn't automatically translate into rising support for the Tories. In large parts of the country, the Conservatives simply remain too toxic for voters to lend them the support they need to defeat the opposition (no matter how strong the economic recovery). As recent polling by Ipsos MORI showed, 40 per cent would never consider voting for them, compared to 33 per cent for Labour. Miliband is fishing in a larger pool than Cameron. 

The Lib Dem collapse, the Ukip surge, the death of the coalition's boundary changes and Labour's superior ground game are all reasons for Miliband's continuing confidence. Against this is the fact that no party has ever won while trailing on both economic management and on leadership. Cameron leads by 15 points as the "best prime minister" and the Tories lead by 14 points on the economy (the highest level so far this parliament). But in this era of stagnant living standards and four-party politics, Labour could yet defy history. The only iron rule of the next election is that there aren't any. 

George Eaton is political editor of the New Statesman.

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The most terrifying thing about Donald Trump's speech? What he didn't say

No politician uses official speeches to put across their most controversial ideas. But Donald Trump's are not hard to find. 

As Donald Trump took the podium on a cold Washington day to deliver his inauguration speech, the world held its breath. Viewers hunched over televisions or internet streaming services watched Trump mouth “thank you” to the camera, no doubt wondering how he could possibly live up to his deranged late-night Twitter persona. In newsrooms across America, reporters unsure when they might next get access to a president who seems to delight in denying them the right to ask questions got ready to parse his words for any clue as to what was to come. Some, deciding they couldn’t bear to watch, studiously busied themselves with other things.

But when the moment came, Trump’s speech was uncharacteristically professional – at least compared to his previous performances. The fractured, repetitive grammar that marks many of his off-the-cuff statements was missing, and so, too, were most of his most controversial policy ideas.

Trump told the crowd that his presidency would “determine the course of America, and the world, for many, many years to come” before expressing his gratefulness to President Barack Obama and Michelle Obama for their “gracious aid” during the transition. “They have been magnificent," Trump said, before leading applause of thanks from the crowd.

If this opening was innocent enough, however, it all changed in the next breath. The new president moved quickly to the “historic movement”, “the likes of which the world has never seen before”, that elected him President. Following the small-state rhetoric of his campaign, Trump promised to take power from the “establishment” and restore it to the American people. “This moment," he told them, “Is your moment. It belongs to you.”

A good deal of the speech was given over to re-iterating his nationalist positions while also making repeated references to the key issues – “Islamic terrorism” and families – that remain points of commonality within the fractured Republican GOP.

The loss of business to overseas producers was blamed for “destroying our jobs”. “Protection," Trump said, “Will lead to great strength." He promised to end what he called the “American carnage” caused by drugs and crime.

“From this day forward," Trump said, “It’s going to be only America first."

There was plenty in the speech, then, that should worry viewers, particularly if you read Trump’s promises to make America “unstoppable” so it can “win” again in light of his recent tweets about China

But it was the things Trump didn't mention that should worry us most. Trump, we know, doesn’t use official channels to communicate his most troubling ideas. From bizarre television interviews to his upsetting and offensive rallies and, of course, the infamous tweets, the new President is inclined to fling his thoughts into the world as and when he sees fit, not on the occasions when he’s required to address the nation (see, also, his anodyne acceptance speech).

It’s important to remember that Trump’s administration wins when it makes itself seem as innocent as possible. During the speech, I was reminded of my colleague Helen Lewis’ recent thoughts on the “gaslighter-in-chief”, reflecting on Trump’s lying claim that he never mocked a disabled reporter. “Now we can see," she wrote, “A false narrative being built in real time, tweet by tweet."

Saying things that are untrue isn’t the only way of lying – it is also possible to lie by omission.

There has been much discussion as to whether Trump will soften after he becomes president. All the things this speech did not mention were designed to keep us guessing about many of the President’s most controversial promises.

Trump did not mention his proposed ban on Muslims entering the US, nor the wall he insists he will erect between America and Mexico (which he maintains the latter will pay for). He maintained a polite coolness towards the former President and avoiding any discussion of alleged cuts to anti-domestic violence programs and abortion regulations. Why? Trump wanted to leave viewers unsure as to whether he actually intends to carry through on his election rhetoric.

To understand what Trump is capable of, therefore, it is best not to look to his speeches on a global stage, but to the promises he makes to his allies. So when the President’s personal website still insists he will build a wall, end catch-and-release, suspend immigration from “terror-prone regions” “where adequate screening cannot occur”; when, despite saying he understands only 3 per cent of Planned Parenthood services relate to abortion and that “millions” of women are helped by their cancer screening, he plans to defund Planned Parenthood; when the president says he will remove gun-free zones around schools “on his first day” - believe him.  

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland