the Tories, sorry, coalition government, have a very disciplined media operation based around the simple message of 'it's all Labour's fault'. If people buy this the government will get more time, if people don't Labour could spend the next 5 years testing Prof. Nut's conclusions and still win.
cuts are going to start biting hard, but if people believe the line about it being Labour's wasteful spending and forget the role financial services played in bringing our country (and others) to it's knees, the Government gets credit.
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