Darling - "Spending spree hasn't worked and I plan more"

Never let it be said, that Darling doesn't believe in throwing more good money onto bad.

In a Guardian interview today, Darling said that "You'd be very foolish indeed to say 'job done'. We've got the Budget next year, and the pre-Budget report in 12 months time. I put more money into the reserve on Monday because I know we're almost certainly going to be doing additional things"

Well there you have it. Monday's spending spree was just the beginning.

And it's not just Darling. Peter Mandelson is apparently drawing up a list of companies that are judged 'too important to fail' and would be bailed out by the Government. If this list were to be leaked, then it would spell doom for the companies involved. I hope that if a list exists that it is not left on a train.

Taxpayers should not prop-up failing companies.

We really are looking at a return to the 70s - Tax and spend, government nationalisations, recession... I can only hope that David Cameron comes to power with the zeal that Mrs Thatcher did and reforms the failing state.

Oligarchs, Osborne and a yacht

And just for added spice, Peter Mandelson is thrown into the mix.

This has all erupted today - in a letter to the Times from Nathaniel Rothschild. The letter alleges that George Osborne and a senior Conservative party fundraiser, Andrew Feldman, met with Oleg Deripaska - a Russian oligarch, and that the possibility of a £50,000 donation to the Conservative party was discussed.

This is a problem as it is illegal for political parties to take donations from non-UK citizens. George Osborne has today made a statement, "A very specific allegation has been made that we solicited a donation from Mr Deripaska and I want to make it absolutely clear that we neither asked for money nor did we receive money."



So what does Mandelson have to do with it?

A few weeks ago, there was some media interest in Mandelson accepting the hospitality of Deripaska on his yacht in Corfu. This was leaked to the press and there was a suggestion of a conflict of interest given Mandelson's role as EU trade commissioner.

What has also been doing the rounds is that Mandelson "dripped pure poison" to a senior member of the shadow cabinet about Gordon Brown. While Mandelson was EU trade commissioner, the papers treated it as interesting tittle-tattle. Only with his dramatic return to the cabinet and rapprochement with Brown did this then become newsworthy.

Nathaniel Rothschild has now written his very angry letter to the Times suggesting the paper concentrate on Osborne's activities rather than the paper's 'trivial obsession' with Mr Mandelson. It appears as though Rothschild is unhappy and believes that Osborne was responsible for the stories about Peter Mandelson.

So currently, Osborne is claiming one thing and Rothschild claiming another. I can see the lawyers doing well out of this if it carries on this way.


Perhaps Osborne should have joined Dave on his bucket and spade holiday in Cornwall?