In a few minutes time Boris will address the conference. Sadly I can't be in the hall to see his speech but I am told that he is going to commit to no council tax rise and also assert that "you cannot regulate your way out of a recession". I'll post more about his speech later, I hope, but I'm glad he he said this. Of course financial markets need to be regulated, but what we need - and what this government has failed to provide - is effective regulation, rather than more regulation.
Overregulation is in Labour's DNA and the Consertatives must be very careful not to fall into line with every new regulatory initiative which the Treasury or Labour Party HQ come up with. Many of them will be launched to garner positive press headlines rather than anything else, and the Tories must be prepared to speak out against them if necessary. Economic activity and growth are not spurred on by extra regulation. Quite the contrary.