The brewing row over rate rises is a sign of things to come.
The PM is giving the false impression that most of the pain lies in the past.
George Osborne and his ministers once mocked the opposition for the goal they now boast of achieving.
The shadow chancellor remembers that it was fear of "Tory cuts" that handed Labour victory in 2001 and 2005, and denied the Conservatives a majority in 2010.
The Chancellor can no longer declare that the UK is the fastest growing major economy.
Black tie is still a code, of course, but not really a dress code. It is code language. It shouts to the sober world: we are on a serious bender here, so give us a wide berth.
The winner of the inaugural New Statesman/Speri Prize in political economy on how an innovative state can tackle inequality.
The bottom 10 per cent of households pay 47 per cent of their income in tax. But they would gain nothing from the parties' plans.
By insisting that a surplus of £23bn is necessary to reduce the national debt, the Chancellor has exposed himself to the charge that he is an ideologue.
The party has denied Osborne the chance to brand it irresponsible while also maintaining clear dividing lines on future cuts.
There is no sign of the updated Charter for Budget Responsibility that the Chancellor promised would be published by now.
Across the political spectrum, the New Statesman introduces you to the personalities who shape our world. Where else would you find Jeremy Corbyn, Tony Blair and Theresa May in the same place?