03/12/2011 08:38 GMT

How The Tories Are Dangerously Underestimating The Labour Threat

When you watch Labour's two most prominent figures, Ed Miliband, the leader, and Ed Balls, his shadow chancellor, you could be forgiven for thinking that their party remains unelectable. The former seems to embody incompetence; the latter, brutish dishonesty. It is a toxic cocktail.