George osborne

Today, George Osborne stepped back from the brink. The Chancellor has reversed his calamitous plan to tear away tax credits from the working poor, and will instead phase in the new system so no one will lose out. And he has also abandoned his reserve plan: to pay for this by raiding Universal Credit. In other words, he has done precisely what The Spectator has been calling for him to do and, in his expensive U-turn, safeguarded the Conservatives’ right to be called the workers' party. I didn’t quite believe this when he first announced it; over the years a gap has emerged between what the Chancellor says in the chamber and what the small print of his budget reveals. But this really does seem genuine. It’ll cost him £3.

The kindest way to treat your enemies is to hate them. Hate them and you don’t understand them or their appeal. Hate them and you cannot see their own doubts and divisions. The opponents of Conservatives see them as greed-driven monsters, concerned only with helping the rich and middle-class. They are so tawdry, so lacking in idealism, they make you hate your own country.

Without George Osborne, we’d probably be living under Prime Minister Ed Miliband right now. His value to the government goes far beyond his brief as Chancellor; he is across most departments most of the time. But as Chancellor, he is judged by the success (or otherwise) of his Budgets – which is why he is now in a moment of great danger. His love of complexity has come to threaten not just his own reputation, but that of the Conservative Party too. Sometimes, Osborne is so clever that he can be downright stupid: This is one of these times. In my Telegraph column today, I say that Osborne is currently planning to soften – but not abandon – his tax credit cuts programme.

It is good to learn that the current management of the V&A want to reverse their predecessors’ lack of interest in Margaret Thatcher’s clothes. The museum’s original refusal showed a lack of imagination about how women have tried to gain greater power in a man’s world, and how clothes tell this story. Museums love to have suits of medieval armour. They reveal the amazing combination of defensive utility and elegant display which the age required. Even better if the armour was worn by a great warrior on a great occasion, like the Black Prince at Crecy. Mrs Thatcher’s clothes were her armour on her fields of battle — in Parliament, on television, in Moscow, at her party conference after the Brighton bomb. They helped her win.

George Osborne is speaking in Germany today, where he will apparently tell a business conference that Britain does not want ‘ever-closer union’ and the other EU member states will have to respect and work with this, if they don’t want to see a Brexit: ‘Remain or leave, is the question our democracy has demanded we put because, quite frankly, the British people do not want to be part of an ever-closer union. ‘We want Britain to remain in a reformed European Union, but it needs to be a European Union that works better for all the citizens of Europe - and works better for Britain too. It needs to be a Europe where we are not part of that ever closer union you are more comfortable with.