George Osborne has announced that the planned £30bn cuts in public spending are going to happen sooner and faster than previously planned. Labour has predictably accused him of panicking, but really it's the right thing to do.
The government is in the first month of its guaranteed five year term. Anything and everything they do now will be long forgotten by the next election in 2020. Now is the time to impose the pain by taking the tough decisions. Meanwhile the opposition is literally leaderless and in no position to mount any kind of defence. So now is the time for the Tories to make hay, and that is what they are doing.