‘Labour will tax and Labour will spend’

Ed Miliband’s response to the chancellor’s Budget statement was “lame”, barely addressing Osborne’s proposals and recycling attacks on the Tories, says the FT. Labour’s real vulnerability is the economy.

After the financial crisis, it was “always going to be difficult” for Labour to recover its reputation for economic management; but it has “played a weak hand poorly” by steadfastly refusing to accept any blame and assuming that the Coalition’s strategy would provoke a slump that would return Labour to power in 2015.

The recovery has undermined this strategy and forced Labour into a position almost as “hawkish” as that of [...]

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