Both ConservativeHome and The Times have the story that

George Osborne was overruled by David Cameron and Nick Clegg over one of the biggest decisions in the Budget, cutting the top rate of tax from 50% to 40% prompting the first serious friction between the Prime Minister and Chancellor.

As the Times note

“This marks the first serious economic decision taken by the Tories without Mr Osborne’s agreement since 2005, when he and Mr Cameron took over the helm.

and that there was significant friction between No 10 and No 11 after the Budget.”

History shows that it never ends well when a Prime Minister and Chancellor start having disagreements, especially public ones via media leaks.

 

Update

There’s a new TNS-BMRB poll out.

CON 30 (nc)

LAB 42 (-1)

LD 12 (+2)

OTHER 16 (-1)

The TNS-BMRB Public Opinion Monitor for May found that half of the British public believe that the economy is in a worse state than a year ago.

The TNS-BMRB Public Opinion Monitor for May found that half of the British public believe that the economy is in a worse state than a year ago.

Opinion was strongly divided between Conservative and Labour voters.

Most Conservatives (58%) thought the economy was about the same as last year, with only 30% saying it was worse, while 61% of Labour voters said it was worse, with only 36% saying it was much the same.

Sentiment among Liberal Democrat voters was almost identical to that of Conservative voters.

 

 

TSE

 

Note: Mike Smithson is on holiday until June 7th.