Letter from the Editor: Never forget the Tory capacity for self-immolation

I watched a couple of commanding performances by politicians this week, one online, the other live. In America, Hillary Clinton delivered the most dominant and brutally effective display of debating skills I have ever seen. She was quick-witted, self-deprecating, well prepared and exceptionally impressive in her grasp of policy.

When Anderson Cooper, the CNN moderator, asked her if she was a “progressive” or a “moderate”, really quite meaningless terms to most people, she snapped back: “I’m a progressive who likes to get things done.” When the socialist Bernie Sanders denounced the iniquities of capitalism, she said: “It’s our job to rein in the excesses of capitalism so that it doesn’t run amok and doesn’t cause the kind of inequities that we are seeing in our economic system. But we would be making a grave mistake to turn our backs on what built the greatest middle class in the history of the world.”

It was impossible not to compare her with shadow Chancellor John McDonnell’s embarrassment this week, and see a gulf in calibre. As Andy Grice writes, Labour is in disarray. Meanwhile, this was the week that Hillary roared.

Back in London, the think-tank Policy Exchange arranged for George Osborne to interview Charles Moore about his biography of Thatcher, in a Mayfair room stuffed with triumphant Tories. Osborne practised that abominable and infuriating finger-jab his generation learnt from Tony Blair. His khaki tie was terrible, his questions meandering – and his total mastery of modern government almost tangible. David Cameron’s foolish promise not to serve a third term has made the Chancellor the most powerful man in Britain by miles.

We live in a very, very Tory country right now, with opposition virtually outsourced to the media by a woefully disorganised Labour front bench, and brutal assaults on the poor (housing policy, tax credits) coming daily.

That doesn’t mean it will last. I had a drink after the event with a leading player in the campaign to keep Britain in the EU. He was not confident of victory, and though organised, the In camp really needs Roland Rudd, its treasurer, to raise money fast.

But imagine this scenario. Cameron and Osborne argue for In – but the country votes Out. Would the PM have to resign, to be replaced by a Eurosceptic – that is, not Osborne? Perhaps. And though Boris would be favourite, others with a stronger lobby in Parliament would run too. Cue headlines about “Tory civil war”.

Tories split over Europe not long ago, assassinating their heroine along the way. Could it happen again?