Fraser Nelson

'Were we right to stop a massacre? Yes, we absolutely were,' said David Cameron on his Radio 4 Today programme interview. But the real question is different: were we right to depose Gaddafi, given the chaos (and bloodshed) that has followed in Libya? Are things so much better for the citizens of Benghazi (and the 80,000 souls in Sirte) now that Islamic State has moved in? The Prime Minister stopping a potential massacre at Benghazi was fairly uncontroversial. But should he have then pressed on to topple the Libyan and created the vacuum now being filled with sectarian warfare and the migration crisis? https://soundcloud.

'That sounded so much better in my head,' said Rachel from Friends in Series 2. I suspect Jeremy Hunt is now thinking the same. He meant to say that British workers need to improve their productivity, and be weaned off work subsidies. But instead, it came out like: 'We have to proceed with these tax credit changes because they are a very important cultural signal. My wife is Chinese, and if we want this to be one of the most successful countries in the world in 20, 30, 40 years' time there's a pretty difficult question that we have to answer which is essentially: are we going to be a country that is prepared to work hard in the way that Asian economies are prepared to work hard, in the way that Americans are prepared to work hard.' Oh, Jeremy.

Andrew Adonis has not defected to the Conservatives but, as he’ll know, it will look an awful lot like he has. As tomorrow’s newspapers reveal, Lord Adonis is to give up the Labour whip to become a crossbench peer in order to chair a new National Infrastructure Commission. To allow this announcement to be made by George Osborne, and at Tory conference, is quite something. It is, in effect, allowing the Chancellor to present his recruitment as Tory coup. So Osborne gets the drama, but at a cost. The idea of a National Infrastructure Commission is a Labour policy, championed by Ed Miliband  last year. Adonis was keen on all of this, and advocated about it in the House of Lords in January.

Jeremy Corbyn's Labour party conference speech started pretty well, with him poking fun at the newspapers’ more apocalyptic predictions of what would happen should he become Prime Minister. He teased the Daily Mail for a story saying that he once welcomed the prospect of an asteroid hitting the earth.* And then, a wee joke. 'It's not the kind of policy I'd want this party to adopt without a full debate in conference.' Everyone, even the press, had a laugh at the press. They were probably even laughing in Iran, where the state broadcaster was showing his speech. But then Corbyn had to go and spoil it all by denouncing the ‘commentariat'. Again.

The new shadow chancellor, John McDonnell, told us to expect him to sound like a mild bank manager when he gave his speech today. He ended up sounding like he was auditioning for the remake of Citizen Smith. How many bank managers end their speech by actually scripting a Wolfie-style yawp of ‘Solidarity!'? Perhaps this is all mild and relatively sane by McDonnell’s standards: if so, it offers us an interesting glimpse of the madness which now has the Labour party in its grip. His speech was supposed to be all nuance, policy reviews and open debate but strip that away and you're left with some of the most deranged, dangerous nonsense ever spouted from the floor of a Labour party conference.

A new leader with little credibility asks famous economists to ‘advise’ him on economic policy. It’s an old trick. News that Jeremy Corbyn is seeking the counsel of Thomas Piketty and Joe Stiglitz is not surprising – both are in the business of selling books suggesting the world is becoming more unequal than ever, and that a crisis is looming. The problem is that this ain’t so - not in Britain, at any rate. Piketty’s central thesis was brilliantly dismantled by Chris Giles, the FT’s economics editor, who won an award for his expose. But at least Piketty published data that could be scrutinised: Stiglitz seems to make his up on the spot.

Not often that I’d be inclined to agree with Syriza, but Yanis Varoufakis had a point last night when he questioned the degree of austerity that has happened in Britain. The Conservatives talk a good game, he said, but George Osborne’s cuts pretty much stopped after year one. I’m going to give a compliment to George Osborne and the Tory government. It’s going to create some consternation in the Tory part. He hasn’t really practiced austerity, he has talked about austerity and it didn’t work. He killed of the nascent recovery after 2009 with the little bit of austerity he did, but he stopped it.” The below figures, drawn from Treasury data, rather back him up.

Any British Prime Minister who meets the Dalai Lama knows it will upset the Chinese government — but for decades, no British Prime Minister has much cared. John Major met him in 10 Downing Street, as did Tony Blair. These were small but important nods to Britain’s longstanding status as a friend of Tibet. Of course the Chinese Communist Party disliked seeing the exiled Buddhist leader welcomed in London — but that was their problem. How things have changed. Now China is far richer and Britain is anxious, sometimes embarrassingly so, to have a slice of that new wealth. From the start of his premiership, David Cameron has been explicit about this. ‘I want to refresh British foreign policy to make it much more focused on the commercial,’ he said.

The Dalai Lama was in London on Monday and met his old friend (and Spectator contributor) Jonathan Mirsky. Time was when he could expect to see the British Prime Minister too – but Beijing was furious that David Cameron met him three years ago and outrageously demanded that the Prime Minister apologise for it. Cameron did what Beijing wanted. He said in public that he had ‘no plans’ to meet the Dalai Lama again. Such was his hunger for Chinese deals, which has been on full inglorious display in George Osborne’s giant kowtow in China this week. Jonathan has known the Dalai Lama for 35 years, and asked him what he’d have said to David Cameron if No10 had not forced him into the wilderness. His reply was astonishing. 'Money, money, money.

A year ago today, Britain woke up to find the union saved – but only just. In 10 Downing St, the 45 per cent voting ‘yes’ looked like a victory, and the whole issue closed. I was in my hometown of Nairn that day, in the Highlands, where things looked rather different: after visiting pupils in my old school I wrote that, far from being closed, the debate had just begun. It wasn’t just the depressing closeness of the result, but the way the ‘no’ campaign had relied upon relentless negativity to make its case.

Given that Jeremy Corbyn is a Hamas sympathiser with an IRA sympathiser as his Shadow Chancellor, I imagine he didn't think too much about promoting a little-known Scot named Mike Watson. He is a Labour peer, who now takes a place in Corbyn’s frontbench as education spokesman. He is also a convicted arsonist, who quit the Scottish Parliament in disgrace after being caught drunkenly setting fire to a set of curtains during the Scottish Politician of the Year ceremony 2004. He was sentenced to 20 months in prison, which he served in HMP Edinburgh. Watson's undeserved rehabilitation says much about how Corbyn is having to scrape the very bottom of the barrel for people willing to serve under him.

Another disclosure from Anthony Seldon's upcoming biography of David Cameron: he reveals that George Osborne tried to stop the referendum European Union membership. The below is from the Mail on Sunday's serialisation of Seldon's book: Both men are profoundly irritated by their Eurosceptic MPs, but Osborne is even more pragmatic than Cameron. The Chancellor’s view is that it is simply not sensible to talk about disengaging from major international institutions in the 21st century – not worth considering it. Can this be true? Look at this non-denial denial from the Treasury: “This is nonsense. The Chancellor believes that the British people should be given the chance to decide whether or not we stay in a reformed EU.