Labour leader Sir Keir Starmer

• THE Conservatives doubling down on their £2,000 extra tax on working people claim, even after it was comprehensively debunked, goes some way to explaining just why the Labour leadership have felt it necessary to keep the target for Tory attack lines as small as possible.

Because, despite all the economic chaos visited upon us during 14 years of Tory misrule, from austerity and Brexit to the free-market whackonomics of Liz Truss, tax and spend is still perceived by many voters as Labour’s weak spot.

And the burden of proof demanded by global markets and investors to show fiscal responsibility will land heavier on any incoming Labour government, however unjustified that may be.

Although space for greater public investment has already been quietly created by Rachel Reeves, the unrelenting message of fiscal responsibility is as necessary during the campaign as it will be demonstrable during the first months of office.

But with initial necessity of public spending restraint will come some potentially long-term transformatory policy.

Labour will be forced to look for and implement bold, but low-cost, policies that can help crowd-in private investment, generate growth, and make a tangible difference to the lives of voters, including:

— simplifying the planning process and overriding nimbyism vis-à-vis housing, energy and transport infrastructure;

— commitment to default regulatory alignment with the European Union;

— reaffirming the commitment to 2030 decarbonisation of the electricity system (of which GB Energy will play an integral part);

— choosing the sectors where Britain can realistically establish a competitive edge, supported through regularity inducement;

— a new framework of workers’ rights for more secure, productive and mutually rewarding workplaces; and

— stopping the counterproductive churn of ministerial posts, for example, the average term of a Tory housing minister has been less than 12 months, utterly mad and maddening, given the complexity and importance of this brief.

Cumulatively a pragmatic economic strategy can emerge ahead of political expediency and, if successful, will discredit the economic zealotry of charlatan populist chancers. The dullness dividend v moron premium may ultimately yield some substantial returns.

JEF SMITH, NW5