David Cameron’s speech at the Lord Mayor’s banquet yesterday evening rehearsed some basic political arguments that will be honed between now and 2015. Cameron made a decent assault on Labour over the cost of living:
‘There are some people who seem to think that the way you reduce the cost of living in this country is for the state to spend more and more taxpayers’ money….At a time when family budgets are tight, it is really worth remembering that this spending comes out of the pockets of the same taxpayers whose living standards we want to see improve.’
The logical corollary of that statement is pretty obvious: smaller government and tax cuts are the solution to the cost of living crisis. Whether the government can actually cut taxes in time for the election remains to be seen; it is borrowing £3,200 a second because it has not cut state spending sufficiently.
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