Tuesday, September 30, 2008

Political capital markets go into freefall

David Cameron has, perfectly reasonably, made a statement about the financial crisis and how he’s willing to put aside normal party politics for the moment. I’ve had the good luck to come across an early draft:

We've got to get the policy response right, and our principle is clear: we must protect the taxpayer where possible, and stabilise the system where necessary. So I and this party stand ready to help in whatever way is necessary, to help the Government to do the right thing for the sake of our economy and for our future financial security.
If what’s needed is an injection of more funds into the financial system, then I can help; for I’ve got loadsamoney. And if bank bailouts are required, then George Osborne, who is considerably richer than you, can play a vital part.
Indeed, as I have wisely appointed a shadow cabinet consisting mostly of millionaires, I can today announce that the Conservative Party is uniquely placed to weather this financial storm. We understand money so very well because we are made of the stuff.

Less flippantly, it’s notable that he says that politicians should “put aside party differences” and avoid “political wrangling and point-scoring” on this.

This sits somewhat awkwardly with the many ferocious soundbite attacks on Labour’s economic policies over the last few days from Cameron and his team. But maybe that’s just the old politics of the past; let’s focus on the future: it also means that he has to avoid any political point-scoring in his speech tomorrow.

No comments: