This weekend Labour has been running a campaign called the Cost of Cameron. If you had a Labour canvasser knocking on your door he or she might have pushed a card into your hands with this seen-it-before bomb graphic on it.
The reverse has 12 factoids that ram home Labour’s cost of living message. In the posts below this one you will find analysis of these.
Maybe I shouldn’t help Labour by debating on their ground but once you scratch beneath the surface of some of these statements two basic truths emerge.
Firstly, we had a big recession in 2008, Labour’s 7.2% single dip recession. It was painful and wage growth has been stunted since then. The good thing is that unemployment has remained relatively low and this has been a good recession in employment terms compared to previous ones. Is Labour saying we should chuck a few 100,000 people out of work and enjoy some robust wage growth for the lucky ones that remain?
Secondly, many prices eased off in 2009 and 2010, as a result of Labour’s 7.2% single dip recession. Now prices are getting back onto a similar track to that which they were on before the recession Labour is trying to kid us that we have lost some kind of low price Labour golden age. The charts show prices were rising just as much if not more when they were in charge as they are now. Energy prices in particular increased more before the recession than they are now.
Having lost the macroeconomic argument on whether Plan A is working or not Labour has alighted on the cost of living as its latest weapon of choice. Labour is doing what the left always does when it loses an argument, it changes the subject. Having changed the subject, it seems their cost of living schtick doesn’t work that well either.