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Tuesday, April 17, 2007

Chancellor wins confidence vote

Labour won a confidence vote against Gordon Brown this evening, by a majority of 65.

The issue was pensions and the abolition of the dividend tax credit in 1997 (see posts below for details). It was an opportunistic motion brought by the Tories. It lacks credibility because it was a Tory Chancellor of the Exchequer (Norman Lamont) who first cut the credit, and today's Tories have no intention of calling for the credit to be reinstated.

The arguments are 10 years old and there has been no new information recently apart from some detailed advice Gordon Brown was given at the time about the impact - he was advised that the impact would not be as great as some would predict.

The Conservatives look opportunistic in bringing this - trying to score cheap points in Parliament in the absence of a coherent policy platform or indeed much in the way of policies at all.

We have yet to hear how they would manage economic policy more effectively than one of the longest serving Chancellors in history.

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