There was little in the speech to revive growth and employment this side of the election. But can Labour take advantage?
Cameron's refusal to introduce a bill committing the UK to spending 0.7 per cent of GNI on aid is a breach of the coalition agreement.
After minimum alcohol pricing and plain cigarette packaging are dropped from the Queen's Speech, Labour and Tory MPs point to the election chief's connections.
If, as Lawson predicts, Cameron's renegotiation strategy fails, the Tory party will suffer its worst split since the reform of the Corn Laws.
Ministers are motivated by the desire to make a quick buck, not by what is best for the taxpayer in the long-term.
At this stage of the electoral cycle, the party needs to be performing much better to justify hopes of a majority in 2015.
Five months after the Conservative whip was suspended from the MP for Bedfordshire, it has still not been restored.
UKIP won the day, but not because of Europe, a Tory MP may well defect and parliament will be hung after 2015.
The party has already made 42 gains and is averaging 26 per cent of the vote in those areas where it stood.