A 'flamboyant exchange of giveaways'

David Cameron set out to battle claims of Tory negativity by promising voters the 'good life'.

If the Conservatives win the election, life will be a "non-stop festival of sunlit merriment", says Michael Deacon in The Daily Telegraph or so their manifesto would have us believe. "The good life" was the big theme of David Cameron's speech at its launch on Monday. Battling claims of Tory negativity, his speech was "aglow with hope-chat".

He talked of a "brighter future" and adopted the tone of a father "pointing out the wonders of the night sky to his children", rather than that of a party leader pledging capped rail fares and a brownfield regeneration fund. He implied the next Tory government would have "pots of money" thanks to the "mysterious alchemy" of "our balanced plan" for tax cuts, childcare and the NHS.

Meanwhile, Ed Miliband's theme was fiscal responsibility. No extra borrowing, no unfunded promises. Despite the Tories' efforts to highlight his "awkwardness and timidity", he was "disobligingly" confident and assertive. Hence there's a certain "confusion" in the Tory tribe, says Jonathan Freedland in The Guardian. They can't decide whether to condemn Ed Miliband as a "useless dweeb or a ruthless, power-hungry cad".

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free
https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

The Daily Mail's revelations of Red Ed's "tangled love life" merely exposed the Labour leader as a man who dated a series of attractive, intelligent and successful women.

Then, not 24 hours after the Tories had been "defending the super-rich tax avoiders formerly known as non-doms", Michael Fallon re-toxified them "as the nasty party" with his "salvo" over Trident, suggesting that Miliband would betray Britain as he had betrayed his brother, David.

With the Tories' sober "long-term economic plan" failing to cut it on the doorstep, it's no wonder that Tory foot soldiers are desperate for "something sunnier to sell".

"It would be unwise to expect too much of the manifestos," given that the latest poll has the two main parties locked in a "suffocating" 34%-34% embrace, says The Sunday Times. Pre-election pledges will shrink to what goes into a coalition agreement, or what a minority government can get through the House of Commons.

Some policies will "fly and others crash to earth", but what matters amid the talk of "billions cut, saved, taxed or spent" is that Labour has "finally framed its policies into an idea of a country where shared success trumps government for and by the few", says Polly Toynbee in The Guardian. "Each manifesto is dressed up as its opposite hard-headed Labour versus caring Conservatives" but on election day there will be "no disguising the big political choice".

"All serious economic discourse seems to have been abandoned in favour of an ever more flamboyant exchange of giveaways and undeliverable promises," despairs Jeremy Warner in The Daily Telegraph. The Tories' provided no plausible explanation of how the "good life" is to be paid for, while Labour's "feigned commitment to fiscal responsibility breathes deceit from every page".

Meanwhile, the big long-term challenges facing the UK's economy go "almost wholly ignored": our lamentable productivity, our overdependence on consumption, and our persistent current-account deficit. "More than six years after the financial crisis... our politics remain as delusional as ever."

Emily Hohler
Politics editor

Emily has worked as a journalist for more than thirty years and was formerly Assistant Editor of MoneyWeek, which she helped launch in 2000. Prior to this, she was Deputy Features Editor of The Times and a Commissioning Editor for The Independent on Sunday and The Daily Telegraph. She has written for most of the national newspapers including The Times, the Daily and Sunday Telegraph, The Evening Standard and The Daily Mail, She interviewed celebrities weekly for The Sunday Telegraph and wrote a regular column for The Evening Standard. As Political Editor of MoneyWeek, Emily has covered subjects from Brexit to the Gaza war.

Aside from her writing, Emily trained as Nutritional Therapist following her son's diagnosis with Type 1 diabetes in 2011 and now works as a practitioner for Nature Doc, offering one-to-one consultations and running workshops in Oxfordshire.