ALL three main political parties have a vested interest in securing a successful macro-economy.

Broadly speaking all three seem to agree in reliance on a free market approach to do it, albeit with variation in the degree to which some regulation is exercised. However, and crucially, there is supposed to be a sharp difference as between Labour and Lib/Dems on the one hand, and Conservatives on the other, about how the product is handled.

By means of high taxes, redistributive public expenditure Labour and Lib/Dems decide how people's earnings are to be spent on their behalf, leaving them with little more than what they require for food, clothing, means to get about and a little entertainment.

Conservatives, though timid and hesitant in opposition, advocate reversing these policies because the effect of them is to sap enterprise and enthusiasm, turning free men (and women) into state servants.

Now a new book, The Orange Book' by some leading Lib/Dems suggests they may have seen the light and wish to move from tax and spend. Perhaps this may embolden Conservatives to be more positive before the ever-opportunistic Lib/Dems steal their clothes.

Dr J Findlater, Silverdale.