Good old common sense in the FT

Because I agree with him, I must say that Phillip Stephens talks customary good sense in the FT on the already wracked state of the ConDemNation, and the resultant opportunity for Labour:
ConDemNation: "Britain’s coalition government set out its plans to eliminate the fiscal deficit in the bright sunlight of certain conviction. A couple of months later, it confronts the chilling realities of shrinking the state...Nick Clegg protested the other day that the spending cuts drawn up in Whitehall were “not dramatically different” to plans laid by the previous government. This softening in the language of austerity says it all. The Liberal Democrat leader once thought “savage” reductions were vital to repair the nation’s finances. Now he must weigh the political costs..."
Labour: "David [Miliband] is the choice of those at the top of the party, who are keen to return to power. Alone, he has talked about rebuilding the coalition that won the party three election victories from 1997. His handicap is that this tags him as the Blairite choice... Ed, the younger Miliband, who could yet win as everybody’s second choice, has offered mostly mush – policies and promises calculated to make the party feel good about itself and about his candidacy... By choosing David Miliband, Labour would be saying it wanted to win back England’s aspirant classes – that it was still serious about power. But the party’s heart could yet rule its head. Mr Clegg – and Mr Cameron – are cheering on the younger of the two brothers."