Labour has a strong economic plan. But it still has to shift voters’ faith in austerity | Larry Elliott

It makes sense to borrow when interest rates are low. Yet much of the public is still attached to the slogans of 2010

A lost decade for the British economy is coming to a suitably downbeat end. The latest snapshots of business activity point to stagnant growth in the final three months of the year and it could be even worse than that. If the economy decides elections, the Conservatives should be heading for a thumping defeat next week. They have been in power for nine years, their record is unimpressive, confidence is low, and they are offering little in the way of tax cuts and spending increases.

In the circumstances, the idea that the Conservatives might win seats next week rather than suffer a heavy defeat takes some explaining.

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