Could the revised tax plan stem the Tory surge?

The chart shows the changes in the Labour betting price for Crewe and Nantwich, expressed as an implied probability, during a day which has seen the government trying to get out of the hole it has dug itself into over the 10% tax rate.

Clearly Brown and his team were thinking of next week’s election when they decided to make the statement to try to shoot this particular fox.

The only problem is that it does not smack of firm government if the party in power keeps on changing tack all the time – and there’s the question of increasing overall government borrowing to pay for the plan.

As I have repeatedly argued C&N is about turnout. Will Labour voters feel motivated enough to go to the polls. This might help them along a little bit.

Mike Smithson