Fraser Nelson

Given that Labour has put out a hilarious plea to discuss “issues” rather than personality (or lack thereof), I would like to rise to this challenge to discuss an excellent point raised by David Cameron on Friday: that the state spending/GDP ratio is far too high in many parts of the UK and needs to be lowered. Stating this utterly uncontroversial fact landed him in a bit of trouble, I suspect because of lack of understanding of the issues. So, in the spirit of Labour’s plea, here are some facts. Cameron told Paxo that: “In Northern Ireland, it is quite clear – and almost every party accepts this – that the size of the state has got too big. We need a bigger private sector.

Today’s new economic data gives a handy piece of ammo to the Conservatives.  It is untrue that, as Gordon Brown says, this recession was somehow milder than others. The economy contracted by 6.3 percent this time – it was 3.8 percent in the 1980s recession and just 2.4 percent in the early 1990s recession. I feel confident that the Conservatives will get this point across clearly, next time that Brown boasts that this recession has been somehow milder, thanks to his decision to “intervene” (ie, double our national debt).

Who would have thunk it? Inflation has again “surprised” on the upside – 3.4 per cent against a 2.0 percent target. Why so high? Even the return of 17.5 percent VAT does not justify this bounce. Might it have something to do with all those bank notes which were being printed by the Bank of England? Might interest rates be going up now to control this inflation – and, if so, what impact would this have on a UK economy which is already the most indebted of any major economy in history? The March figures show Britain has, by some margin, the highest inflation of any major European economy: it’s way higher than that of France (1.7 percent) Spain (1.5 percent) Italy (1.4 percent) or Germany (1.2 percent). And in America, 1.1 percent.

The Charlie Whelan problem is intensifying for Labour, with more revelations in the Mail on Sunday today taking on from our cover story in this week’s magazine. Whelan’s behaviour may be no worse than that of Ed Balls and Gordon Brown – but he is more careless. Like McBride, he was actually caught: and his tactics documented in a formal seven-page report. Not the sort of document you want surfacing during a campaign. So it's little wonder why Whelan used Carter-Ruck to try and deter The Spectator from any further investigation in the bullying case: it threatens to expose Gordon Brown’s entire modus operandi and the methods which he uses to control the party. And, for that matter, run the country.

“I agree with Nick”, said Brown – and, as it turned out, so did most of the people YouGov polled. Brown lived right down to expectations, Cameron lived up to them (but didn’t exceed them). Few would have had any expectations from Clegg: what we political pundits know to be his clichés will be heard for the first time in many living rooms tonight. Each used tactics we’re familiar with. Brown opened his verbal machine gun, and sought to mow down the audience (they surrendered early on). David Cameron was fluent, articulate – as anyone who has followed politics had come to expect. But dazzling? No. He was subdued, seemed to be biting his tongue at times. He didn’t attack Brown, which seemed to be deliberate.

Last summer, The Spectator received a letter from Charlie Whelan's solicitors complaining about this post - where we mention their client's spot of bother with his colleagues at Unite. Carter-Ruck were instructed on one of the no-win-no-fee deals: it cost Whelan nothing to sue, but could cost us £thousands to defend. So the lawyer's letter is, by itself, an effective form of intimidation. A magazine with a small budget obviously faces huge pressure to do what he wanted: apologise, pay up and (suspiciously) undertake not to pursue the story any further. Under the circumstances, The Spectator could do only one thing. Our full investigation into Charlie Whelan is the cover story of tomorrow's magazine (see image, left).

Battersea Power Station is chosen as an allegory for Britain – “a building in need of rejuvenation in a country in need of rejuvenation” says David Cameron. As for Cameron’s speech – great stuff. He delivered the ‘empowerment’ message and gave hard examples, and wrapped it up into a greatest hits of his best soundbites (none the worse for that). It was so up our street that, at times, I thought he was working his way through the leader in the current edition of The Spectator. I’ll save my full verdict on Cameron’s speech and positioning for the magazine this week.  But here’s the rest of the launch. The Tories went for an ensemble, with each of the Shadow Cabinet taking turns to read out the lines.

Labour's manifesto cover has been the cause of much merriment online - creating what the Americans call "subvertisments". ConservativeHome has already lined up some spoofs. We asked Carla Millar, who has done quite a bit of work for The Spectator, to do a version with a mushroom cloud of debt in the middle and the family shielding their eyes. This is the result.

David Cameron takes a few journalists with him on each of his one-day tours, and it's my turn tomorrow: 6am start. I should be able to get  half an hour or so with him, to do an interview for The Spectator. As is customary, I'll try and ask him some questions on behalf of CoffeeHousers - so please add any thoughts as a comment below.

The News of the World has its expensive and much-awaited ICM poll of the marginals tomorrow. There is some good news for Cameron, and some not-so-good news. First: 66 percent of voters in the marginals agree with the message "it's time for change". Bad news: a surprisingly large number think that Nick Clegg represents that change. A Lib Dem surge means that Tory swing is just 6 percent in the marginals, versus 5 percent nationally. Where is the Lord Ashcroft magic? In James's political column this week, he says the Tories had been so confident about the marginals that they reckon they need a 5-point lead nationally to win, rather than the 8-point lead previously assumed. The News of the World/ICM poll challenges that narrative.

The witterings of Phil Woolas about immigration yesterday - where he accused The Spectator of contorting immigration figures and double-counting immigrants - have landed him in plenty trouble. Stephen Timms was on the Daily Politics today and conceded that Woolas was talking out of his hat. They weren't our figures, they were from the ONS - and compiled under orders from Eurostat with its Labour Force Survey (LFS) scheme. Andrew Neil has written it up in a blog here. The government is at sea because even ministers in charge of the relevant departments have no idea about the scale of immigration in Britain. This wee farrago brings three lessons for the Conservatives. 1. Honesty about immigration is crucial.