Robert MacCulloch: Is National's Economic "Strategy" Already Unravelling?

When Tony Blair's New Labour government came to power in 1997, he pulled off a remarkable string of three election victories. The "trick" of this achievement stemmed from Blair's promotion of, in particular, the financial services industry in London, and his support for light-touch regulation. The entire UK economy was lifted. Tax revenues soared from that industry, even as bankers paid themselves huge bonuses. They loved Blair. So how did he placate the left of his party?