Tory Finances

I think the news that the Tories are managing to raise far more money than normal and are in a fine financial position is even better news than the obvious election advantage it gives over a financially moribund Labour party. It is good news because of what it signals about Cameron's approach to leading the Conservative Party.

A new Conservative leader looking at the fortunes of his predecessors might well come to the conclusion that the best course of action is to spend money now as, in all likelihood, the crunch will come under some future leader. When the crunch comes do whatever is necessary to keep the party afloat but nothing more. By contrast, Cameron has the Tories in excellent financial shape. This, like the lengthy policy reviews, makes the charge that Cameron is interested only in short term poll ratings rather than the long term health of the party ring hollow. It is reassuring.

Less importantly, the difference between the financial health of the Labour and Conservative parties is supposed to tell us that Brown can't call a snap election. I doubt he would anyway. Snap elections are a gambling man's game and Brown is far too cautious; that's the lesson of the pre-budget report.