It is not over till "The Fat Lady Sings The Red Flag!"

Give up now. There is no point. Tories have won, Labour are heading for an other 18 years of oblivion. Darling and his economic advisor's did the budget on the back of a fag packet and we are heading for Third World status.

The media want us to believe this, the Tories are RELYING on us believing this and some of our own are starting to think it is true.

Comrades nothing could be further from the truth. The budget on Wednesday was a bitter pill to swallow in terms of debt but it was also the most heartening moment of the year. A Fabian headline of this year has been "Fairness now more than ever in Recession". This is essentially what the budget will deliver. Not cutting with a Cameron chain saw but offering help and support for those who need it most at an acutely difficult time. The fact that we are asking the wealthy to prop up these policies with a new top rate is a bonus.

Normally in times of economic strife the rich and wealthy while losing a % of their income can afford to carry on as normal without much effect on their lifestyle. Those with middle and modest income on the other hand get hit with the same economic punch but have not got the means to recover. This is why asking the rich to help out more than normal is entirely justified and "Fair". Exactly what a Labour Chancellor should be.

I am not an economist so I will leave the number crunching to others (something tells me Nick Robinson's number crunching is rather biased though) . Instead I want to concentrate on the political fall out.

One impact of all the negative media coverage of the budget is that people are automatically thinking the Tories will win the next election, it will be 1997 all over again and we are heading for disaster. People like Ian Dale getting a hard on and asking his disciples to hand in petitions to get rid of Brown and predicting that we are in our last days forget the oxygen we are getting from the Tories reverting to type and having no solutions of their own. You cannot win an election solely on mumping and moaning about how bad the "other lot are".

Our policy of action (as opposed to Tory inaction) has protected people's savings, protected people's mortgages and offered them protection from the worst excesses of free market capitalism. Can we imagine the position the country would be in if as the Tories wanted "we let the recession run it's course"? I shudder to think. This election in 2010 has all the hallmarks of a close run thing with distinctive battle lines drawn for the first time since 1997.

Our position is not favourable but it is far from desperate. Darling's projection of growth by the end of the year coupled with people our policy of help for families has a potential to unite us around a solid message of hope. This will be entirely in contrast to our Eton chums who will demand a return to an economic model which has been found severely wanting. John Prescott today also highlighted the sham of the "caring conservatives"

Locally this budget has taught us one thing, the SNP are a nigh on irrelevance. If letting "the recession run it's course" makes you shudder , being independent and trying to bail out RBS, HBOS etc would make a the most patriotic Scot seek asylum on the moon. Salmond yesterday said "IF we were in Government.." either that means he has forgotten he runs the Scottish executive or he is more of a lunatic than we thought. I wont grudge him this free tip - use the powers you have before demanding more. This is not to say we should ignore them as an election threat but merely highlighting how in a time of Global economic crisis their calls for independence are borderline insane.

An exciting year lies a head. There will be peaks and troughs more bad news and renewed hope. I am confident Mr Darling will steer us through with as little pain as possible , receiving the kudos for it and bolstering our poll percentages. We must build on the message Wednesday's budget sent out , one of fairness and hope while understanding that difficult decision must be made and ensuring that the voters realise they will be made with compassion and consideration. The Tories will promise ravaging cuts " to stabilise the economy" forgetting that its hard to stabilise an economy if your cuts lead to mass unemployment.

So there we have it, come away from the cliff edges, bridges and roofs, go back to your constituencies and prepare for the battle of a lifetime. I will meet you in the early hours of Friday June 4Th 2010 , a whisky in hand joining the "fat lady" as she belts out the Red Flag celebrating a Labour victory.