Why would anyone pay £250,000 to change Tory policy when the Liberal Democrats would do it for £2.50 and a hug? The brilliant Sunday Times investigation today makes you wonder whether businessmen don’t actually realise that out that, in this coalition, it doesn’t matter what you persuade David Cameron of. Policy is decided by horsetrading with the Lib Dems, who wield disproportionate power (for good or for ill).
For example, Osborne was personally inclined to bring the top rate of tax down to 40p, but the Lib Dems told him they’d only allow this in exchange for their mansion tax. Cameron refused to do the deal, so 45p it was. The rise in capital gains tax was a Lib Dem demand, and would only be changed by Lib Dem agreement.
Persuading Tories is really not the best investment of any businessman’s time or money. A party that has one seventh of the MPs has half the influence in the ‘Quad’ — so anyone seeking to nobble the Prime Minister would be wasting their time in buying their way to Chequers.
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