It’s a mistake to think that, when it comes to the UK economy, the Conservatives have always been seen by British voters as a safer pair of hands than Labour. But, notwithstanding the damaging austerity imposed on the country by David Cameron’s chancellor, George Osborne, it was, by and large, the case between 2008 and 2022. This was a period bookended by the global financial crisis that occurred under Gordon Brown’s watch as Labour chancellor and then prime minister, and by Liz Truss’s disastrous 49-day stint in the top job.
In reality, people were already beginning to lose faith in the Tories’ economic competence when Truss beat Rishi Sunak in the race to succeed Boris Johnson in Number 10. But she right royally trashed whatever reputation the party still had on that score and, as a result, set it on the road that led to its cataclysmic defeat at the polls last July.
Another leadership race duly followed that election. But instead of using it as an opportunity both to conduct a thorough postmortem and issue a full-throated apology for the mess they’d made of things across a whole range of domestic policy, the candidates stayed largely in the party’s comfort zone.
