The Tory campaign under the direction of party chairman Chris Patten focused on hammering Labour over tax - and on the personality of John Major.
To tap such a pool of labour would require more radical tax and labour-market reforms than most governments are contemplating.
Many reforms, such as the dismantling of labour protection and tax increases, will be painful.
If governments can raise more money from taxing capital, they can afford to tax labour more lightly.
So-called supply side reform, covering the labour market and tax cuts to boost enterprise was another key feature of Thatcherite economic policy.
But sustained rapid growth would require a slew of big second-round reforms, to include things like land acquisition, labour laws and tax.
Having stepped through the looking glass they argue that Labour's tax policies, returning money to hard working families somehow attracts votes to them.
Labour MP and tax campaigner Michael Meacher said Starbucks' practice was "profoundly against the interests of the countries where they operate and is extremely unfair".
Some of this inequality was addressed by the Labour governments through tax credits and the minimum wage, but the share of income going to the top 1% continued to rise inexorably, driven by the financial sector.
Many Conservatives on the right of the party argue the government's pro-growth initiatives are inadequate and that changes to the labour market, tax cuts and other "supply side" measures needed to boost competitiveness are being held back by the Lib Dems.
She argued that it was the last Labour government which introduced tax breaks for creative industries, but Mr Vaizey said that Labour could not take the credit for current successes.
"The losers from Labour's 10p tax fiasco have become winners under this government, " he added.
BBC: Eastleigh by-election: Miliband restates 10p tax pledge
The reforms "should tackle weaknesses in product market regulation, labour market institutions, tax systems, and strengthen the single market, " the body said.
He also accused previous Labour governments of boosting tax credit payments ahead of the last two general elections in "an attempt to gain short-term popularity".
BBC: Duncan Smith condemns tax credits as 'not fit for purpose'
Undeterred, in Magdalena Mr Cavallo said that he could slash Argentina's 14.5% unemployment rate through tax and labour reforms, and cut the cost of public services by competition in their provision.
The resulting scandal caused Lula to lose interest in difficult tax and labour-law reforms in his second term and to forge an alliance with the PMDB, an agglomeration of regional barons with a voracious appetite for patronage and pork.
Mr Blair's determination to dictate the Scottish Labour Party's tax policy in this situation seems to violate the entire spirit of how his party has, together with the Liberal Democrats and others, proposed that the Edinburgh parliament should operate.
And Mr Blair's abrupt declaration that Scottish Labour was bound by the national party's pledge on tax made George Robertson, Labour's Scottish spokesman, look like an idiot.
Labour has said all the tax measures will be re-introduced should it be re-elected.
She accused Welsh Labour of holding discussions on tax-varying powers behind the scenes whilst publicly scorning their coalition partners.
Now Labour are backing a Mansion Tax and offering to work with the government to introduce it.
Take for example the debate surrounding what Labour call the 'bedroom tax' which they say penalises some of the most vulnerable claimants.
Labelled a "bedroom tax" by Labour, families deemed to have a spare room will have their housing benefit claims reduced from April.
One remarkable feature of this dispute over tax is that the Tories, inventors of the low-tax orthodoxy which Labour is now eagerly espousing, do not feature in the argument.
He now has to expand on the good ideas that his conference generated, while withstanding what will doubtless be a fearsome Labour assault on his inheritance tax and other proposals.
It is worth recalling that, as recently as 1966, a Labour government imposed a special tax on service employment in the preposterous belief that pushing people into manufacturing would boost economic growth.
Given the sheer number of British households that under the Labour government became eligible for tax credits, and given the rise in unemployment, this increase in benefits and tax credits represented a massive boost to households' spending power.
These difficulties include an oppressive tax system and a labour code that makes firms wary of hiring.
Lula said then that in a second term his priority would be tax, political, labour and pension reforms.
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