The Labour threat and two Tory ** faux pas **

The Conservative lead over Labour remains at 7 percentage points (Con 41%, Lab 34%, LD, 15%). Hat tip: Conservative Home. However, as I observed earlier today, Brown may be about to make two “excessive” policy risks by printing money and cutting taxes.  Actually, the tax cut would be welcome, but would alas dent the Tories’ opinion poll standing.

Because there is a Labour threat — Brown winning a majority or hanging Parliament in a ‘snap’ general election — which means more disastrous Brownian (dis)economics and the grim prospect of a second Brown term.

The Tories’ two looming strategic errors, therefore, are:-

(1) They fail to propose an income tax cut before Brown does.  The Conservatives have promised to elimiate lower rate tax on savings (interest on wealth) as opposed to reducing taxes on income tax (earned income) — not very egalitarian.  As a result, they would lose credibility further (as it is clear that Cameron will not replace his mate Osborne), and may even gift Brown an opinion poll lead — if he appears to be more in tune with the people.  Which Brownian (dis)economics can never be, though it might seem so at the time — after all, these good mortgage deals nowadays for the wine-bibbing “chattering classes” make them just luv Labour.

(2) They bring into the Shadow Cabinet the vilest proponent of europhilia, Ken Clarke.* Just because Labour has woken Mandelson from his coffin does not mean that the Conservatives should wheel in Clarke. This would inevitably create a UKIP bounce that would not only be disastrous for the Tories (and a boon for Labour) in the forthcoming European elections — but would spill over into the forthcoming general election.  Cameron is already weak on Europe (i.e. EPP-ED) and bringing back Clarke, a throwback from the Major régime, could split the Tories but would certainly drive Eurosceptic voters away from them in droves.

Therefore, the Conservatives need to propose to cut income tax as well as keeping Ken Clarke on the back benches where he belongs — to see off the Labour threat.  Otherwise, there will be a Tory leadership election within the next 18 months if they let Labour back in or gift them a hung parliament.

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