Have the battle lines for the general election been drawn already?

How appropriate that such an event is happening at a local example of Labour's successful regeneration projects. 38 million was given by the government for local regeneration, and it has made a stunning difference to Hastings and St. Leonard's seafront.

This is an interesting time, too, for a fundraising event. In a week when a household name, Woolworth's, may be about to disappear from our high streets, every single move made by the Government could affect thousands or possibly millions of jobs.

Alistair Darling this week made his pre-budget report, the most important economic announcement since WWII. In the midst of a financial crisis, he showed that the differences between Labour and the Tories are clearer than ever. According to YouGov, traditionally a Conservative-leaning polling organisation, more than 70% of people supported Darling's announcement that, if elected, Labour will bring in a 45% income tax band for the very top-end earners. He also announced a temporary 2.5% cut in VAT, a move which will hopefully spur on consumer spending a little.

In my view the Government should go further. Darling should announce a higher threshold for low-income earners, so that nothing below the first 10,000 earned should be taxed.

But Darling's income tax announcement is the first clear sign of what the central arguments might be at the next election. Does this country want to be governed by a party that is able to respond to such pressing issues as the financial crisis, a party that will make sure nobody is left behind '“ Labour '“ or a party that calls vaguely for tax cuts and is prepared to forget about public services '“ the Conservatives?

We've a long way to go before the next election. But as we can see from the work that has gone into tonight's fundraiser, a lot of people already recognise the progress that Hastings has made under Labour, and want to make sure that Labour can continue doing its good work locally by being elected for a fourth term.

I look forward to seeing some of you there!