Have the Tories lost the confidence of the City of London ?

Amazingly the Tories think the best way to shift Labour from government is to promise to match labour's spending pledges for three years.

Students of politics will know that Labour promised something similar in 1997, but this was widely seen as a means of easing fears on the foreign exchange markets and in the City of London about Labour's relative lack of economic success when in government.

Are the Tories saying they have lost the confidence of the City of London to the extent Labour had in the 1990's ?

If so, its an shocking indictment of the modern Tory Party. The only other alternative view is that the Tories are so desperate to ape new labour circa 197 that they are adopting Tony Blair and Alistair Campbell's ideas from that period without any understanding of why labour adopted this policy themselves.

Either way, it shows a lack of political sense as it allows the press and the Lib Dems to argue - "Vote Tory, get Labour polices".