DOUBLE DOWN:

£6bn tax cuts expected as Tories aim to halt poll slide (David Charter, 1/17/05, Times of London)

MICHAEL HOWARD will unveil a multibillion-pound tax cut promise today as he tries to revive Conservative election fortunes after the party suffered a double blow yesterday.

The Tory leader put a brave face on the defection of a former minister to Labour and a poll suggesting that his party faces its worst election result since 1906.

Mr Howard said that he had identified £35 billion in savings on Labour’s spending plans, of which he would use £12 billion for tax cuts and reducing government borrowing. He is expected to say today that around £6 billion would be available for tax cuts. The remaining £23 billion would be reinvested in education, health, defence and international aid.

But Mr Howard’s launch of the spending review by David James, the City troubleshooter, was overshadowed both by the defection of Robert Jackson and the survey of marginal seats. The Populus poll for the News of the World said that Labour was heading for a 160-seat majority even though Mr Howard is pinning his hopes on marginal seats for a Tory renaissance. This would leave the Conservatives with 162 seats after the next election — three fewer than in 1997.

If the math is right, that would give Labour twice as many seats.

Posted by Orrin Judd at January 17, 2005 8:45 AM