Osborne's focus on UK's deficit deters scrutiny of his weak economic plan

Chancellor's tax and government spending cuts do not amount to a long-term strategy: Labour has a chance to take the initiative

Despite repeatedly missing his own targets, George Osborne has so far done well out of his decision to focus attention on the deficit. In keeping the spotlight on the public finances, the chancellor has avoided scrutiny of his broader economic strategy.

The masterstroke was to convince the public that excessive spending by Labour caused the financial crisis. This was an impressive feat of persuasion: when the crisis began in 2007, public debt was lower as a share of GDP than when Labour took power a decade earlier. Despite finding little support in the facts, the story stuck, thanks in part to a media that failed to question Osborne's narrative.

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