Gideon is in trouble – or rather, Gideon should be in trouble.
In fact, Gideon should have been in trouble for years. He’s not made one deficit reduction target since 2010.
Something will have to give if he wants to continue the facade of “paying off our debts”. He’ll need to increase taxes or make further spending cuts. He’s got even less room to dig himself out of his tax credits hole.
Or maybe not. After all, this is the man who was able to claim a huge strategic victory by announcing a legal living wage, even when it was clear the sums didn’t add up. Perhaps he’ll show enough chutzpah to increase spending, or to turn on the investment taps.
It’s incredible he’s able to get away with it. But that’s the price of not opposing. Because if you’ve supported Gideon for 5 years against the wishes of your own party and any rational concept of economics; when you’ve helped propagate a moronic metaphor of household debt, you have nowehere to turn when it all goes wrong.