Will this shield the party from Osborne’s attacks?

As we all know big buildings are protected from lightning strikes by having a lightning conductor.

The idea is that if lightning targets building it will strike the lightning rod and will be conducted to ground instead of passing through the building, where it could start a fire or cause electrocution.

Isn’t this what could be the role for Ed Balls as more information comes out about links between the last government and the banks over LIBOR.

Balls is the most recognisable LAB figure still active from that period and it would surely suit EdM if his shadow chancellor took the flak rather than him and the party.

Whether Balls wants this role is irrelevant. EdM will ensure that he gets it by default. Whether the strategy succeeds could play a big part in the next general election.

Osborne would dearly love to paint Labour as the party that can’t be trusted with the economy – Miliband will want to deflect the attack.

On this one my money would be on Miliband.

Mike Smithson @MSmithsonPB