front-pages-12

The tedium of bankers’ bonuses dominated the front pages today: according to Politics Home, 75% of political stories were dominated by the theme in some way or another. The fact George Osborne and Alistair Darling managed to sound remarkably similar on the Andrew Marr Show – both pointing out banks like RBS would no longer exist without taxpayer support – just goes to show how little scope there is for real discussion on the question of bonuses, especially after Obama’s $500k salary cap for financiers.

I thought Osborne came across better than usual in a slightly chastened form, less the snarling aristocrat and more the balanced politican, although I wouldn’t go to the rhapsodising lengths of rightwing bloggers like Daily Referendum. Having just said there seems to be cross party agreement on taking actions against disproportionate City bonuses, Nick Clegg managed to take it a step further:

The government’s response has been pathetic. We do not need an inquiry to answer the question of whether bankers should receive bonuses – the right answer is no.

Anyone on the boards of the banks, the executives, should not take bonuses. In future they should not get cash bonuses at all.

The Telegraph and Independent both splashed on bonuses; the Sunday Times linked Glen Moreno, the private sector whizz tasked with overseeing the government’s £37bn banking stakes, to a Liechtenstein bank infamous for exploiting tax loopholes.

liechtenstein-slide-01

The Mail on Sunday raised some questions about Jacqui Smith’s parliamentary expenses, claiming she raked in £116,000 annually for a second home despite “effectively lodging with her sister”. Whoever said politics wasn’t glamorous?

Interestingly two rightwing pundits, Peter Oborne and Matthew D’Ancona, reckon sleaze could be the banana

skin on which either party slips at the next election. D’Ancona reckons there are increasing parallels between Brown and John Major. Although it’s been said many a time before, he argues Clarkson’s “One eyed Scottish idiot” jibe marks a new low in personal insults directed at the PM.

Finally, it’s worth comparing d’Ancona’s piece with Andrew Rawnsley. The Spectator man argues that David Miliband was fundamentally right to withhold publication of certain details of Binyam Mohamed’s trial; Rawnsley thinks it’s an extension of Blair’s “great moral failure”.

front-pages-6

You can almost smell the cordite in the air. Mass briefings, new advertising campaigns and a striking Pre-Budget Report: an election is in the offing, and today the first salvos were fired.

Even the quickest flick through the Sunday headlines gets monotonous. The Observer went with “Darling to slash VAT and spark Xmas spree”, The Sunday Times said “Gordon brown to cut VAT as winter recession bites”, The Telegraph heralded the PBR as an ’emergency budget’, while The Independent said “Brown and Darling slash VAT in £18bn tax gamble”.

Last night’s Treasury phone bill must have been a whopper.

At the red-top end of the market, Gordon Brown wrote a piece in today’s News of the World declaring “I’ll give help when you need it”, and Alistair Darling similarly honoured The Mirror with an exclusive interview.

Before we get into the meat of it, there’s a telling contrast in the ads the two main parties are putting out. After so much chatter about the way Obama used web tools to sweep to US electoral victory, it’s refreshing to see Labour take a leaf from his script. Have a look at this electronic dig at David Cameron from the Labour website:

cameronschoolboy

Unusually for a political ad, it’s actually quite funny. On the other side of the divide, the Tories have dredged up the famous ‘tax bombshell’ ad John Major deployed against Neil Kinnock in 1992:

bombshell1

It’s surprising to see the Conservatives harking back so clearly to Major’s beleaguered and recession-struck government, even if the poster did play a part in bashing down Kinnock’s 16-point poll lead at the time.

Darling’s PBR on Monday is expected to slash VAT to 15 per cent, increase the state pension by up to £5 a week and cancel tax hikes on car users and small businesses. It’s a festive swag-bag of goodies to woo that taxpayer that will cost the Treasury £18bn. So what next?

In April, Britain takes presidency of the G20 and world leaders – including Barack Obama – converge on London. This is the earliest point Gordon Brown could realistically call an election. This week a former Cabinet minister told The New Statesman that “Gordon has to get the Obama visit out of the way then call an election”.

Keen not to be seen cashing in on the economic crisis, the man himself told BBC One that “I am not thinking about that at all”. Cameron told Andrew Marr that “I am ready for an election at any time”. A great vignette from Andrew Rawnsley’s Observer column:mandelson

Peter Mandelson was on fine form at a drinks party at Millbank last week. The Business Secretary made a few eyes pop out on stalks by openly declaring that the general election would be on 10 June next year, the same day as the local and Euro elections. After savouring the effect this had on his listeners, he then gave us a pantomime wink. “That was a joke,” he twinkled.

One thing is for sure – timing is everything, and if Brown fluffs it as he did last autumn he will certainly forefeit the premiership. The Independent’s Alan Watkins thinks a spring election is on the cards if the polls tighten a bit more. Spectator editor and Telegraph columnist Matthew D’Ancona thinks Tory ranks are rattled by the prospect of an election, but believes the Conservative top brass is expecting Brown to play long and go for autumn 2009 or spring 2010. In The Sunday Times, Dominic Lawson thinks Brown and Darling’s PBR is a huge error and calls on Jeremy Clarkson to save the country.

For me, the man of the moment has to be big beast and former Chancellor Ken Clarke. If I were George Osborne, I’d be looking over my shoulder with some concern.