This is the classic way to manage the political cycle, ensuring that any pain administered to voters is long forgotten by election time. Photograph: PAįor Mrs Thatcher’s first two terms in office from 1979-87, there was a rhythm to Conservative budgets: toughness early on in the parliament, tax cuts as polling day approached. Sir Stafford Cripps and the despatch case in 1950. In truth, the squeeze on living standards and higher inflation following the 1967 devaluation were more likely reasons Ted Heath won. But the chancellor Roy Jenkins also copped criticism for not being generous enough in the last of his three budgets. Another explanation was that Labour would have won had Gordon Banks not gone down with a bad dose of food poisoning before England’s World Cup quarter final against Germany. One theory was that Harold Wilson had lost because of a set of rogue trade figures, affected by the arrival of a couple of jumbo jets. A much more modest affair followed in 1964.Īfter Labour’s defeat in the 1970 general election, there was much soul searching. The problem then, though, was that the election planned for the autumn of that year had to be postponed due to the Profumo scandal. There were Conservative giveaway budgets before both the 19 elections, and Reggie Maudling was also in generous mood in 1963.
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