“It’s the economy, stupid” – Labour party edition

th exactly one year to go until the next General Election, political parties are sharpening their messaging and, not surprisingly the focus is clearly on the economy.

Which harks back to the Clinton 1992 campaign slogan: It’s the economy, stupid.

Labour: Cost of living crisis, Stupid

The message: Although it was originally ‘The economy, stupid”, James Carville, Clinton’s top strategist ultimately adapted this to “It’s the Middle Class, stupid”. The Labour party have picked up on this idea that growth isn’t the be-all, end-all for voters, but that living standards for the squeezed middle (although I’m fairly certain this family isn’t what Labour have in mind). From energy prices, to housing costs and wages, Labour has one question for voters: Are you better off now than four years ago?

The risks: With inflation rates above wage growth for most of this Parliament, Labour have been on fairly solid ground with their “Cost-of-living-crisis” messaging. But if a growing economy translates into strong wage growth (and we’ve seen some initial signs that may be happening), then the core of Labour’s message could collapse.