John Redwood
When David Laws resigned this blog recommended that John Redwood take over his job at the Treasury. This would have given the Tory Right a hand in government in the very area where they are intellectually at home, cutting back the State. Moreover, within the Monetarist persuasion, Redwood is economically sound. He made good sense in his Today interview in a piece about the differing views round the MPC table. He is right to want more bank lending to business. He would be wrong if this stretched to consumer lending and mortgages or if business meant nothing but junk kitchens. In the remodelling of our economy not only must we up the savings ratio as Redwood advocates; we also need to reduce the cost of housing.
The strains upon the Coalition’s ability to get its legislation through Parliament will come from the Tory Right and the Lib Dem Left on the backbenches. Cameron needs to keep them both sweet, but on different issues. Danny Alexander is competent but not a big hitter. Redwood is much more incisive and certainly hits big. The government would look stronger if he were there. If Fox does a bunk he would be good at Defence.