Lawson: I would not have U-turned

I’m presenting Radio Four’s Week in Westminster tomorrow at 11am and discuss George Osborne’s U-turn with former chancellors Alistair Darling and Nigel Lawson (the latter pictured above when editor of The Spectator). I put to them that it is unwise for a chancellor to perform a U-turn because it undermines his credibility – a very precious commodity in such turbulent times. Darling said that the great risk is that Osborne doesn’t look like he’s in control. Lawson replied:
 

‘That is my concern; that it might be thought that the main thrust of policy is no longer secure. And once the financial markets – let alone anyone else – think the government is on the run, then the task of maintaining the policy is very much harder.’

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The U-turn on the charities tax, he said, was worth making because it was a mistake.