Ed miliband

On Friday, Ed Miliband pledged to introduce greater competition in our banking market. Last September, he pledged to freeze energy prices for 20 months while our broken energy market is reset to expand competition and consumer choice. Reforming broken markets to increase competition and address the long-term sources of our cost-of-living crisis might seem an unusual theme for Labour to champion. In fact it is an approach that has learnt from a progressive conservative tradition, one that understands the importance of reform to ensure that markets remain open and competitive. Noone understood this idea better than the American President Theodore Roosevelt – a passionate believer in free enterprise, and a tenacious advocate of market reform.

If you think bankers do a bad job of banking, just wait until government tries its hand. This seems to be what Ed Miliband is proposing today: a Labour government would set up two new banks, to challenge the existing five big ones. And so his 1970s revival continues. There’s no evidence that new banks would help much, as the Bank of England Governor has already indicated. But as I say in my Telegraph column today, Ed Miliband isn't too worried about lack of evidence. He's proposing to be a different kind of political leader. His list of ‘predators’ – ie, nasty businesses to whom he promises to give six of the best - grows longer all the time.

Truce ditched. Peace deal scrapped. The parties agreed to revive Punch and Judy at PMQs today. Ed Miliband opened with bankers’ pay. RBS is seeking to give top traders bonuses of 100 per cent. This requires government approval.

Is the improving economy harming Labour’s standing? According to a new Guardian/ICM survey out today, Labour is still ahead of the Conservatives by three points — but the gap is slowly shrinking. Since the last ICM poll in December, Labour’s lead has dropped to just three points, down from an eight point lead in November: Today’s poll also looks at how assured people are feeling about their own financial position and their ‘ability to keep up with the cost of living’. 52 per cent now feel confident about the state of their personal finances — the highest level since October 2010.

One of the genuine seasonal pleasures to be enjoyed as 2013 slipped around the U-bend was Enoch Powell making his familiar comeback as the Evil Ghost of Christmases Past. Enoch was disinterred by the producers of the hitherto un-noticed Murnaghan Show — presumably in order to frighten the viewers and put a spanner in the wheel of the programme’s principal guest interviewee, the Ukip leader Nigel Farage. Dermot Murnaghan tripped up Mr Farage by the devilishly clever tactic of reading him some anodyne quotes from Powell’s exciting and controversial ‘Rivers of Blood’ speech and asking Farage if he agreed with them. But only later did he reveal that they were the words of the sulphurous Antichrist Powell! Brilliant.

It’s a whole new kind of politics. The subdued atmosphere at PMQs had two possible causes. First, the tragic death of Paul Goggins had stunned the House into near silence. Ed Miliband seemed close to tears as he paid his tribute. ‘Labour has lost one of its own, and one of its best.’ Moving to more substantial issues, Miliband chose the neutral topics of monsoons and roulette machines. He saluted the work of the flood-wardens and the efforts of courageous citizens who had leapt to each others’ aid during the storms. Cameron replied by vowing that river defences would be reinforced with huge sandbags stuffed with cash. Then Miliband moved to fixed-odds betting machines.

Christmas is excellent news for a Labour opposition. The season of goodwill throws rich and poor into sharp relief. Red-faced aldermen gather at loaded tables to gobble up roast goose and plum-duff. And afterwards they throw sixpences at starving chimney-sweeps who scrabble for crusts of bread in the snow. At least that’s how it should be. But Labour is in trouble this year. A dearth of bad news has gripped the country. There’s a chronic shortage of shortages. And the lack of a serious crisis is reaching crisis proportions. Ed Miliband is suffering. He looked positively nauseous as he stood up at PMQs and applauded the ‘welcome’ fall in joblessness. ‘More!’ shouted the Tories. Miliband’s lips curled queasily.

Ed Miliband's housebuilding announcement today is rather a re-heated announcement of his conference pledges on housing. Eric Pickles has already set out on Coffee House his belief that these new ideas are 'more of the same high-tax and top-down policies that led to their housing boom and bust'. The announcement certainly allows for a bit of a knockabout between the two parties, neither of which has much to boast about when it comes to housing, but there's one point that's worth noting about the Labour leader's announcement today.

Spectator readers won't have been particularly surprised by the FT's story that Ed Miliband is dropping his opposition to a third runway at Heathrow: James reported that the Labour leader was softening his stance on aviation back in November: 'Miliband is also determined to avoid a head-on collision with his shadow chancellor. Having put Balls back in his box over HS2, he now seems to be softening his opposition to a third runway at Heathrow. This extra runway is something which Balls regards as vital to Britain’s economy and which the pair fell out over in government.' But if that softening is continuing apace, Labour isn't ready to go public with it. I've spoken to a party source this morning who said: 'FT suggestion Labour is changing its position on Heathrow is wrong.