George osborne

Naturally, when George Osborne and Ed Balls squared up in the Commons this afternoon for a showdown on the HSBC tax row, it wasn’t a particularly pretty affair. There was shouting, heckling, yowling - and the backbenchers were pretty aerated, too. Indeed, the Tories had turned up intending to throw the Shadow Chancellor off pace before he’d even started, shouting ‘ANSWER’ at him every time he tried to say a single word. Balls had clearly turned up thinking that dragging the Chancellor to the Commons to answer his urgent question was victory enough. But an urgent question is only a victory if the minister responding leaves the Chamber thinking that he or she needs to get onto their officials for a more detailed briefing because the row has got bigger.

Boris and George have been painting London town red this morning. First, the Tory duo took over the Tate Modern at the crack of dawn to show off a very large, and presumably expensive, banner for a speech on a 'long term economic plan for London'. During this they announced that the London Overground will run 24 hours a day — eventually. This morning @Tate Modern the Chancellor @George_Osborne and I launched #LongTermEconomicPlan for London pic.twitter.com/cOZnwIf6xu — Boris Johnson (@MayorofLondon) February 20, 2015 Then en-route to a building site in Edgware, the Chancellor generously opened up his purse to buy the Mayor a sumptuous breakfast at a greasy spoon.

Presumably as a way of getting out of an endless debate about receipts, Ed Balls has issued a letter with some detailed questions about tax evasion and HSBC (as opposed to tax avoidance and window cleaners). The letter asks three questions: 1. Why has there only been one prosecution out of 1,100 names? Was the “selective prosecution policy” a decision made by Ministers? 2. When were you first made aware of these files, what action did you take and did you discuss it with the Prime Minister? 3. Why did you and David Cameron appoint Lord Green as a Conservative peer and Minister months after the government received these files? 4. Did you and David Cameron discuss tax evasion at HSBC with Lord Green, or did you turn a blind eye?

Under George Osborne, borrowing costs have fallen to record lows – as data released by the Bank of England today shows. And this, rather than pretending that he has been helping savers, should be his line of attack – after all, when borrowing costs are down so is the interest savers can earn. The effect Osborne's cheap money has had on borrowing costs really is quite extraordinary. The average rate on a 2-year 75 per cent LTV fixed mortgage is at a record low of 2.01 per cent, down from 2.6 per cent last summer. That is a significant saving for those signing the contract on their house today. Just look at the graph above to see how rates have plummeted. Personal loans are also becoming far cheaper too.

The dramatic rout of Scottish Labour continues. Polls suggest the SNP will take 55 out of 59 seats and of the 14 constituencies surveyed by Lord Ashcroft, only Glasgow North East is set to remain in Labour hands. Such political collapses are rare in UK politics - so what's going on? Prior to 2011, the dividing line of Scottish politics was ‘to be or not to be’ Labour. This was a huge advantage to a party which, faced with split opposition, managed to win 69% of Scottish seats in 2010 with just 42% of the vote.

Even though he wasn’t quite prepared in the sartorial stakes for the visit of Greek finance minister Yanis Varoufakis, George Osborne was ready to use the meeting between the two as another messaging moment. Following their discussions, the Chancellor has released this quote: ‘It’s clear that the standoff between Greece and the Eurozone is fast becoming the biggest risk to the global economy, and it’s a rising threat to our economy at home. In Europe as in Britain now is the time to choose competence over chaos. I urged the Greek finance minister to act responsibly, but it’s also important that the Eurozone has a better plan for jobs and growth. We have that plan in Britain and in these uncertain times, now is not the time to abandon that plan.

The Commons is pretty quiet at the moment, draining of energy earlier and earlier in the week as MPs head out to their constituencies. So quiet, in fact, that Labour seems to have given up on using departmental question times as a forum for making government ministers uncomfortable or piling any political pressure on their opposite numbers. Yesterday’s Work and Pensions Questions were pretty lacklustre from an opposition attack point of view, but today’s Treasury questions were far worse. Tory MPs had turned up with piles of sickly sweet loyal questions to ask, most running along the lines of ‘is the Chancellor aware that he’s doing a fantastic job?

What are the lessons for British politicians from Syriza's victory in the European elections? They're certainly very keen to tell voters what lessons we should be drawing. Last night Nigel Farage focused on the failure of Europe, while David Cameron pointed to the importance of a strong - you guessed it - long term economic plan. This morning George Osborne underlined that point on the Today programme, saying: 'I certainly understand that if you have unemployment at 25%, if your economy has shrunk by 20%, as the Greek economy has over recent years, you are looking for other answers, alternatives – because ultimately this is just the latest chapter in the eurozone crisis.

Why has politics turned into stand-up comedy? On this week’s View from 22 podcast, Andrew Watts and Jesse Norman MP discuss this week’s Spectator cover feature on how these two worlds are colliding. What does the increased influence of comedy mean for our faith in politics? Aside from notably humorous politicians like Boris Johnson, how funny are MPs generally? And which member of the Labour shadow cabinet is deemed so funny he could be a professional stand-up? James Forsyth and Isabel Hardman also look at 13 tests to make it into Downing Street set by George Osborne — in 2004. Based on a Spectator piece he wrote earlier in his Parliamentary career, how many of these tests does his government pass? And by his own measures, will the Conservatives end up back in No.

For most of this parliament, Downing Street has been thoroughly paranoid about Boris Johnson and his intentions. Any attempt by the Mayor to reach out to Tory MPs was met with deep suspicion. But now, the Tory leadership is actively pushing Boris to see Tory MPs — he was even invited to join the Whips for a Whips Supper at Boisdale last week. This is all evidence of the unspoken deal between Boris and the Tory leadership. He will be loyal and campaign hard for Cameron. In exchange, it will allow him to cultivate Tory MPs; helping him to rectify his biggest weakness ahead of any Tory leadership contest. These arrangements suit everyone involved.

Downing Street was a happy place after David Cameron and Barack Obama’s joint press conference yesterday. The US President was effusive in his praise for Cameron and his seeming endorsement of Britain’s economic strategy has delighted Number 10. But, I suspect, that in terms of actually influencing how people vote, the success of pensioner bonds might be more important. Osborne announced these pensioner bonds in the last Budget and they pay 2.8 per cent interest on a one year bond and 4 per cent on a 3 year bond. They offer the over 65s a far better deal than anything available on the high street.

David Cameron and George Osborne addressed Tory MPs this evening. The meeting was to update the Tory parliamentary party on the economy and its place in the party’s election strategy. Cameron told them that whatever the question was, the answer was that you can only have it with a strong economy and urged them to repeat this message as much as possible. He said, ‘Boring is good’. Addressing the assembled MPs, Osborne emphasised that the economy was the heart of this debate. He argued that this was first time since 1992 that Labour and the Tories had gone into an election with different spending planes. Most of the questions were fairly loyalist.

Following the success of the Tories' last anti-UKIP strategy session, I've been leaked details of the latest election planning at CCHQ: [...] I say, what's the most damaging - and widely-held - perception about the Conservatives? Hmmm. That we're the party for the rich? Most unfair, I think we can all agree. Right, moving on, what's next? Let's cut inheritance tax.  Hurrah!   It's the least we can do for ordinary wealthy Britons...  If it weren't for Ed Miliband this election would be over by now. Thank heavens for Ed, then.

So – how did it go? Yesterday, Tory HQ yesterday issued a poster with the misleading claim that the deficit had been ‘halved’ where in fact the reduction has been closer to a third (see below). In election campaigns, a ‘porkie*’ is introduced in stages. It debuts when dropped into a speech or article. If no one complains, it gets used again with a bit more boldness. And if there’s still no pushback, it’ll be used bigger – say, on a poster. As it was with Labour’s £35bn Tory cuts porkie, so it is with Osborne’s ‘halved the deficit’ porkie. But judging by today’s newspapers, the 'poster' stage of this porkie seems to have gone rather badly. “Fib!

As the General Election limbers up, today saw the first day of proper campaigning with the Tories unveiling their first election poster and George Osborne hitting the road. The Chancellor did not have far to travel though, popping up to Twickenham, some 11 miles from the Treasury. His Twitter feed was in overdrive: https://twitter.com/LGCGroup https://twitter.com/tania_mathias It says something about relations at the top of the coalition when the Chancellor chooses to launch the election campaign in his own Business Secretary's seat. Mr S wonders whether Osborne followed Commons protocol and alerted Vince Cable to the fact that he would be swinging by his constituency?