This is a sometimes 'cheesey' blog about British and American politics and anything else which tickles my fancy!

Sunday, 19 October 2008

Shares in Gordon Brown are up

It was Harold Wilson who famously posited “a week is a long time in politics”.

Only a few weeks ago, at the Labour Party conference, all talk was of leadership change.

Since then, there seems to have been a miraculous reversal in the Prime Minister’s fortunes.

An Independent on Sunday poll today sees Labour narrow the Tory lead. It is possible we might even win the Glenrothes by-election – unthinkable only a few weeks ago.

The Prime Minister’s handling of the financial crisis has been assured and decisive.

The £500 billion bail out of Britain’s banks is a big gamble, but it had the support of the opposition and no one, least of all George Osborne, is offering a credible alternative.

Mr. Brown has put all his cards on the table and now we must wait and see.

But surely no one can accuse him now of dither, delay and indecision?

If anything, this financial mess has galvanised him and Labour backbenchers. There is nothing quite like an international crisis to improve a government’s prospects.

Of course, this is no comfort to all for us who will end up paying for the mistakes of others. The next couple of years are going to be hard, very hard.

But politically, it has given Brown an opportunity to revitalise his government.

Take a look at Paul Krugman’s
article in the New York Times. Even Americans think Mr. Brown has saved the world financial system.

He seems to be the only leader who is genuinely interested in solving the current financial crisis on an international level, rather than retreating to nationalist solutions.

He has also been calling for reforms of the world’s banking and financial structures for years. Now, would seem a perfect opportunity to put that into practice.

And no longer does he have to pretend to be happy or flash. Serious times call for serious men. The ‘novice line’ he used in his conference speech the other week is beginning to work.

So for now, Brown is safe. There is not going to be any leadership challenge. There is not going to be any plotting.

Labour’s fortunes are tied to the economy.

The Prime Minister has had a good few weeks, we will wait and see what the next few bring.

No comments: