Analysis: Time is Labour's only comfort

A year ago Labour MPs were clamouring for a snap general election - and David Cameron was praying there would not be one. Today the roles are reversed, with the Conservative leader challenging Gordon Brown to bring on an election after Labour's crushing defeat in the Glasgow East by-election. There is no chance of that - and the only crumb of comfort for Labour MPs on a grim day is that there are nearly two years to go before the next election must be held. A Micawberish strategy of hoping something will turn up is a pretty bleak strategy. And things will get worse before they get better, as today's announcement of a further significant hike in domestic gas prices demonstrated. The loss of such a safe seat - it had been in Labour's hands for almost 60 years - stunned Labour MPs, even though they have become pretty used to... [read full story]                    

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