One of the difficulties facing Labour is how to criticise the government’s Presbyterian approach to spending without looking profligate.
The difficulty for Labour in railing against the “austerity” of the present Govt is it cannot claim fiscal responsibility if it wants to spend its way back to a new golden age.
The government has set itself a tough goal – getting back into surplus by 2014/15.
No-one is pretending that will be easy. Nor is anyone with any sense thinking that having done that the government elected in 2014 - whatever hue it might be – will have much opportunity for increased spending for some time.
Tax and spend worked for Labour through the noughties, it won’t work this time.
tax and spend woprked for Labour?
In a political sense, yes.
In an econimic sense, no, because tax and spend never works.