Why Ed Miliband’s getting it right on the cost of living

George Osborne’s budget, due in two weeks’ time, will be billed as an agenda for growth. This is welcome, but a year late. The burning agenda now is the cost of living. It was our cover story for The Spectator last October: why fret about mild 1 percent-a-year cuts, we asked, when the real killer will be prices? Petrol at 130p a litre is only the most visible sign of this. Other horrors confront shoppers in the supermarket – salmon fillets up by a third, potatoes and butter by a quarter. When Alan Duncan speculated that petrol could hit 200p, he was on the right scent. While the BBC is talking about cuts and Osborne is talking about jobs, Ed Miliband is now talking about the cost of living – even helping to launch a Commission on the Cost of Living. He has, I hate to say, chosen his campaign theme well.