It's pretty clear that George Osborne's bold speech gives an attack-minded NuLab strategist a lot of material to work from. And Labour's own conference indicated strongly they intend to go down fighting, kicking, lying and spitting.
So their almost total silence this week betokens the most ferocious response to come in the days ahead.
Given their mendacious performance in the 1997 election - which by the spring of that year couldn't have been lost by Labour in any circumstances - it was always likely that Brown's final campaign would be built upon monumental scaremongering and blockbuster lies.
Tin hats all round .... incoming !