Osborne's populist Budget helps the Conservatives claw back voters from UKIP.
The greater the challenge of borrowing appears, the more likely voters are to stick with the Tories.
Rather than seeking to craft a new electoral coalition, the Tories are just managing decline.
If the Mayor returns to parliament in 2015, he will need a London seat.
The Chancellor's cuts are likely to reverse the fall in inequality that he boasted of.
The Chancellor may have provided the Tories with the protective cover they need to limit universal pensioner benefits.
The Chancellor is forced to comment on the patronising image in every broadcast interview.
The Chancellor's offer to the over-65s is rational but crude politics: they vote more than any other age group.
A summary of George Osborne's fifth Budget.