Clegg talks tax

Nick Clegg’s giving a speech at Policy Exchange this morning, in which he’ll announce his intention to cut taxes for low and middle income earners.

In many respects, it’s a landmark moment for the Lib Dems (although Clegg’s political invisibility will probably negate any positive effects), and it’s certainly good for the Tories. When the Lib Dem leader can talk so openly about tax cuts, then you know the New Labour mantra “tax cuts = worse public services” is in its death throes.

The new emphasis is on loosening the fiscal squeeze that people face. Clegg’s words will be a few more drops in the tidal shift. And will make it so much easier for Cameron to repeat them in future.