Speeches thrown out as economy hijacks conferences
Oct 2 2008 by Ben Guy, The Journal
The most dramatic conference season for years drew to a close yesterday. Political Editor William Green reports.
IT has been like nothing before. The global financial meltdown hijacked this year’s conference season, shaking the parties and transforming the political environment.
David Cameron was forced to tear up his agenda at the Tory gathering in Birmingham this week as stock markets crashed and financial institutions toppled.
The crisis cast a sombre shadow. The Tories may be on the verge of power, but you couldn’t tell – it was like someone had died, perhaps the global financial system.
Mr Cameron made an unscheduled economic debate on Sunday, then an “emergency” speech on Tuesday, pledging to work with Gordon Brown to see the country through amid fears of huge job losses, repossessions and crashing pensions.
Mr Cameron abandoned a key policy on the Bank of England reconstructing failing banks as events required a shift in strategy.
But his gritty mood of determination secured precious media coverage, while his Shadow chancellor George Osborne was sent to London to meet Alistair Darling. Events made it the Cameron conference. Even Mr Osborne’s pledge to freeze council tax dimmed into insignificance amid volatile financial markets.
Liberal Democrat Nick Clegg was even more overshadowed at his conference three weeks ago when banking giant HBOS came close to collapse.
As the third party, it is hard enough for the Lib Dems to be noticed – although Mr Clegg tried his best with a tax cut pledge. But that now seems a distant memory.
If there was any winner in the starkest political terms, it was Gordon Brown. A predicted bloodbath at Labour’s Manchester gathering two weeks ago failed to materialise as the economic outlook nose-dived.
Labour grumblers appeared to get behind the Prime Minister, perhaps realising that jockeying for position in such times makes hard-pressed voters furious.
And Mr Brown delivered a strong speech, outlining why he was the rock that Britain could depend on. His warning that it was no time for a novice also landed directly on Mr Cameron, who has since strived to prove he is no such thing.
But events are still moving fast. Parliament returns on Monday, a Cabinet reshuffle could yet happen and Labour faces a crucial by-election in Scotland.
And nobody is yet quite sure what will happen with the economy. More dramatic times are ahead.
