Thursday, 8 November 2012

Over Half Way

By most accounts this week marks half way through the life of this parliament - thirty months since the last general election in May 2010, and thirty months to go to the next one on Thursday 7 May 2015 - assuming that the coalition lasts until then.

I think for the government and perhaps many MPs in marginal seats, this will be a psychological milestone as they begin to realise that time is beginning to run out for them to be seen to be delivering change or having made an impact.

With the latest estimates suggesting that the government will miss its target of having debt fall as a share of GDP by 2015-16, total public borrowing during the five year lifetime of the government set to outstrip that of the total for the thirteen years of the previous Labour governments, and the billions spent on a series of quantitative easings doing nothing to help business borrowing but killing the value of savings and pensions pots, the political prospects for the coalition partners look equally bleak.

Come election time many may feel that all the hurt and pain levied will have been for nothing - and will  vote accordingly.

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