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100 business chiefs back the Conservatives - it's more important than you think

The latest attack on Labour by business may be dismissed as "man bites dog", but it could do damage to the party, albeit indirectly.

103 business leaders have endorsed the Conservatives in a letter to the Telegraph. Does it matter? 

Like Harry Potter's Mirror of Erised, you can see what you want in it. Labour optimists will point out that many of the signatories are Conservative peers and donors. It's likely that the tax affairs of some of the other signatories will now come into the spotlight, which some party insiders believe will harm the Tories.

Labour strategists, who have long-anticipated this attack, also hope that the focus on their offer to business earlier this week - lower business rates for small businesses, no destabilising In-Out referendum on Europe for the big corporates - will sufficiently muddy the waters that the row doesn't do any damage to the party's standing in the polls.

But pessimists within the party will point to the presence of Duncan Bannatyne, who warned against a Cameron government in 2010, or Sir Charles Dunstone, who endorsed Labour in 2005. They fear that the support of business leaders provides a kitemark of credibility that the party cannot afford to do without.

A lot hinges on how Labour react to the letter. A week-long row with a few - many low-profile - business leaders is unlikely to do Labour much direct damage.  But a week spent on the rather abstract question of whether Ed Miliband is a danger to business is a week spent away from the party's issues. As one MP commented to me during the party's last row with business: "I doubt any of my constituents heard about it. But it certainly meant they didn't hear about the paternity stuff."

Just as the party's announcement on extending paternity leave was overshadowed by Miliband's clash with Boots chief Stefano Pessina, it could be that this row blots out any headlines for Labour's strengthened pledge to curb zero-hours contracts. That's far more worrying than any number of letters to the Telegraph.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.

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Donald Trump's healthcare failure could be to his advantage

The appearance of weakness is less electorally damaging than actually removing healthcare from millions of people.

Good morning. Is it all over for Donald Trump? His approval ratings have cratered to below 40%. Now his attempt to dismantle Barack Obama's healthcare reforms have hit serious resistance from within the Republican Party, adding to the failures and retreats of his early days in office.

The problem for the GOP is that their opposition to Obamacare had more to do with the word "Obama" than the word "care". The previous President opted for a right-wing solution to the problem of the uninsured in a doomed attempt to secure bipartisan support for his healthcare reform. The politician with the biggest impact on the structures of the Affordable Care Act is Mitt Romney.

But now that the Republicans control all three branches of government they are left in a situation where they have no alternative to Obamacare that wouldn't either a) shred conservative orthodoxies on healthcare or b) create numerous and angry losers in their constituencies. The difficulties for Trump's proposal is that it does a bit of both.

Now the man who ran on his ability to cut a deal has been forced to make a take it or leave plea to Republicans in the House of Representatives: vote for this plan or say goodbye to any chance of repealing Obamacare.

But that's probably good news for Trump. The appearance of weakness and failure is less electorally damaging than actually succeeding in removing healthcare from millions of people, including people who voted for Trump.

Trump won his first term because his own negatives as a candidate weren't quite enough to drag him down on a night when he underperformed Republican candidates across the country. The historical trends all make it hard for a first-term incumbent to lose. So far, Trump's administration is largely being frustrated by the Republican establishment though he is succeeding in leveraging the Presidency for the benefit of his business empire.

But it may be that in the failure to get anything done he succeeds in once again riding Republican coattails to victory in 2020.

Stephen Bush is special correspondent at the New Statesman. His daily briefing, Morning Call, provides a quick and essential guide to British politics.