The Liberal Democrat conference in Liverpool this week is the first major test of the Coalition’s ability to keep everyone together. But we can already see the desire of LibDem activists to ensure their party remains distinct from the Tories.
With LibDem support slumped to 15 per cent in the polls, it is not surprising they are looking for a lift. At the weekend Chief Secretary to the Treasury Danny Alexander gave them the kind of red meat they really like – a clampdown on offshore tax planning.
While this is being portrayed as a legitimate attack on “fat cats”, financial advisers should look more closely at the detail of this measure when it emerges. We might just see the usual unintended consequences of such a move hitting some mainstream pensions and investment plans.
While the headlines may say one thing, watch out for the detail. Middle Britain might just get caught in the net.
Iain Anderson is a director at Cicero Consulting