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The Coalition’s Political Plan B, Mrs T, and TINA: what does this spell out for the Lib Dems?

The political aftershock of George Osborne’s autumn statement is just beginning to sink in: the Coalition’s 5-year austerity programme, designed to end in 2015 by the time of the next general election, is now a 7-year programme straddling two parliaments.

This poses problems for the future of the Coalition, and for the Lib Dems in particular, encapsulated here by the FT’s Philip Stephens:

Here’s the paradox. The effect of sticking to economic plan A has been to shred the coalition government’s original political strategy. In the heady days after the 2010 election the Conservatives and Liberal Democrats signed up to

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