The Tories risk losing their credibility on the economy

Johnson and Sunak are struggling to combat the cost of living crisis

-  ANDREW GRICE

The Tories persuaded many voters that a decade of austerity was an economic choice, even though it was a political one. They knew the fundamental cause was the global financial crisis but seized their opportunity to accuse Labour of overspending.

Most people bought it, and the damage to Labour is still evident today.

Although under Keir Starmer and Rachel Reeves, the shadow chancellor, Labour has drawn level with the Tories on the economy in the opinion polls, one reason why the party is not further ahead in the polls is voters' lingering doubts about its economic competence.

Now, however, some Tory ministers and MPs fear privately that the boot will be on the right foot and they are about to suffer the same unfair fate as Labour in 2010. The read-out after yesterday's cabinet session on the cost of living crisis blamed global issues outside the government's control, such as soaring inflation and energy prices.

Ministers agreed that "these global pressures were the single biggest issue of importance to the public and outlined work taking place in their departments to help the public and businesses". Yet, as in 2010, voters are more likely to blame the government of the day rather than accept that the causes are global.