Where Credit's Due

I told you about Credit Suisse, didn't I?

Anyway, the main news today is that for all practical purposes, Britain has a hung Parliament, but not a Coalition, nor even a confidence and supply agreement.

Thanks to Conservative MPs, there is now an absolute taboo against a top rate of income tax any lower than 45 pence in the pound, which is five pence higher than it was on every day of Gordon Brown's Chancellorship and for all but the last month of his Premiership.

After that, then good luck with uprating benefits in line with wages instead of inflation, or abolishing employment rights for workers in companies with fewer than 500 employees. The Tufton Street Mafia is no longer facing only the Parliamentary Labour Party.

Moreover, today it became an article of the Constitution that while the Conservative Party was allowed to change the Prime Minister once in any given year, in that party's own terms a second such change would necessitate a General Election. And it's still only Monday.