Could have been a lot worse – had it been George Osborne giving it.
It’s still an unsatisfactory mishmash and, as everyone has said, carefully political. Labour have pointed out the major weaknesses in the Tory case, and people are beginning to notice. Poor old Dave Cam has done his best to turn the Tories into a modern, electable party but he’s stuck with being a toff himself, having a dim toff chum as his shadow Chancellor and a grass-roots membership even more reluctant to change than Labour were in the 1990s.
But much of it is too little, too late. The investment fund to build offshore wind stations? It would have been a much better use of the £12bn he wasted on a stupid VAT reduction a year ago. Instead, he’s put in £2bn – as equity, not cash – 12 months later.