As the economy continues to struggle, David Cameron is sounding ever more like his predecessor. Asked by Ed Miliband at today’s PMQs to respond to growth of just 0.5 per cent in the last 12 months, Cameron replied that any growth should be welcomed amid the “global storm in the world economy”. The man who once mocked Gordon Brown for blaming “global conditions” for weak growth now steals his lines.
Miliband went on to ask his favourite question: does the Prime Minister know how many businesses have been helped by the [insert failing growth policy]? In the case of the Business Growth Fund, which has five offices and 50 staff, the answer was just two. From there, as Miliband raised the subject of FTSE 100 directors’ pay, the exchanges descended into a noisy squabble over who had taxed the rich the most, over who had been meanest to the bankers.
Cameron pointed to the rise in capital gains tax, the new levy on non-domiciles and the tax deal agred with Switzerland. Miliband reminded him that it was the last Labour government that introduced the 50p tax rate, which the Tories want to abolish. His full-throated support for the top rate (the fourth highest in the world) will raise eyebrows in Westminster but never forget that, as poll after poll has confirmed, most voters favour it.
That wasn’t the only moment when Ed sounded redder than he has for some time. For the first time, he echoed the language of the St Paul’s protesters, accusing Cameron of always favouring the 1 per cent over “the 99 per cent”. It was further evidence that the Labour leader believes the political spectrum is shifting leftwards. If he is right (as we must hope is), the political rewards could be great.
It was left to Alistair Darling to sound a sombre note and remind the House that the Greek crisis is entering its terrifying endgame. As he urged Cameron to persuade the G20 to produce more details on the alarmingly vague rescue package, events in Westminster suddenly felt a lot smaller.