George Osborne has chosen to eschew the hospitality of Nathan Rothschild this year - or more likely the other way around - in order to speak to us about the Conservatives as the new progressives. But they are progressives with a twist: as a result of their belief in reform, they will also save cash, he says.
Let's take these propositions at face value. On reform, the record is pretty patcy. It is true that Michael Gove has some interesting ideas on schools, though his structural school reforms largely build on Labour academies and legal requirements for more providers in schools. The big difference is the cost. An extra 220,000 surplus school places are promised, and are essential to deliver the promised changes, at a cost of £1 billion a year. Some £4.5 billion of capital would be raised from existing plans to replace or renew schools. So, no savings there.
But, as we have seen, education reform is not matched in health. Indeed the BMA spokesman and shadow health secretary Andrew Lansley is determined to push up waiting times, demand less from doctors and assume that patients will prosper merely because they (and the hackers of Russia) can access their patient records on Google. He has also declared that NHS spending will rise without this reform.
Equally, on political reform, the record is just as patchy. The Totnes primary was a good idea, and Labour should embrace primaries. I'm backing the Progress campaign there. But it is hardly cost-free. And more to the point, David Cameron has set himself resolutely against electoral reform, even though it would with the Alternative Vote or Additional Member System do more to ensure that voters had a direct say over who was their MP than the current system. Again, hardly a bastion of progress.
But, there is a reason they're still called the Conservatives, isn't there?