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We've had Blue Labour, Purple Labour and soon there'll be "In The Black" Labour

By Tim Montgomerie
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Screen shot 2011-11-27 at 11.11.06

Fiscal conservatism is almost as unpopular in Labour circles as their three times election winner Tony Blair. Nonetheless a few brave souls are attempting to make the case for it. John Rentoul has the story at the bottom of his Independent on Sunday column:

"A Policy Network pamphlet by four authors, including Anthony Painter and Hopi Sen, is called In the Black Labour, playing on the fashion for symbolic colours (Red Tories, Blue Labour, The Purple Book). It advocates, clearly and admirably briefly, the case for Labour fiscal conservatism, saying that the party should try to outdo the Tories in promising to balance the books. It even quotes Ed Balls from 1998: "Left-of-centre governments need to favour tough fiscal policy because from time to time, if economic crises occur, you may have to relax that."

Good luck to all four. They'll need it.