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Whoever gets in, Labour should relish their fortune

Why does any political party want to form the next government of the UK?

As the Governor of the Bank of England, Mervyn King, told a US economist, the next government will have to introduce such swingeing austerity measures that it will be booted out of Downing Street at the next election and stay in the political wilderness for a generation.

That would surely wipe that smug smile off the faces of David Cameron and George Osborne. If Gordon Brown had any sense he would encourage the Tory-Lib Dem coalition, then sit back and watch those two parties face the ire of the public once they come clean and spell out the tax rises and public service cuts that must surely follow.

Of course, Gordon personally won’t benefit. He will be ousted as Labour leader just as soon as the new government takes office. But at least he will know that the party is just biding its time before being returned to government.

In four or five years’ time the economy will have recovered sufficiently to lower the national debt and Labour will be able to cash in on the Tory/Lib Dem unpopularity.

Overall that would not be a bad result for Labour. A few months ago it seemed the party was facing such a wipe out it would take forever to recover.

Now it is merely licking its wounds, ready to re-enter the fray next time around.

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