Vince: “Labour and the Tories are accusing each other of being confused and contradictory on the economy, and they’re both right.”

Attack is the best form of defence, I guess, so it’s no surprise that the Tories – seriously on the back-foot since it became clear that David Cameron and George Osborne haven’t got a clue what they plan to do about the deficit – have launched a broadside against Labour. With Peter Mandelson using a press conference this morning to accuse the Tories of “confusion and disarray”, the Tories have accused Labour of being “in chaos”.

So far, so yawn. Or as Vince Cable put it today:

Labour and the Tories are accusing each other of being confused and contradictory on the economy, and they’re both right. The fact that they insist on this political bun fight shows they have failed to understand that the British public and the markets want a clear picture of what the next Government will do.

“The Liberal Democrats are the only party that has had a consistent approach.

“We’ve been very open about the scale of cuts required and setting out where our priorities would be, while recognising that the timing must be decided by the strength of the economy. That is why we have set out five tests for when and how we start to cut.”

And here’s a reminder of those five tests to form an objective judgement of when it’s safe for the British government – whether gold, red or blue – to start cutting public spending:

  • evidence of sustained economic growth;
  • employment growth;
  • overseas demand (especially in the EU);
  • monetary and credit conditions in the UK; and
  • the market cost of government borrowing.

And in case you’ve not had your fill of Vince’s common-sense, here’s a 30-second video pointing out the Tories’ economic muddle:

(Hat-tip: PoliticsHome).

Read more by or more about , or .
This entry was posted in News.

Post a Comment

Lib Dem Voice welcomes comments from everyone but we ask you to be polite, to be on topic and to be who you say you are. You can read our comments policy in full here. Please respect it and all readers of the site.

To have your photo next to your comment please signup your email address with Gravatar.

Your email is never published. Required fields are marked *

Please complete the name of this site, Liberal Democrat ...?


Recent Comments

  • Dominic
    @Mark Frankel - financial transactions taxes (including stamp duty) are a pretty poor way to raise money. Much of the burden would fall on UK pension funds - a...
  • Steve Trevethan
    Perhaps a general question from this particular instance is the degree and reasoning for a very powerful organisation to charge customers to an extent which har...
  • Mark Frankel
    The Palestinians are their own worst enemies. They had a chance with the Oslo Accords and blew it; they reject the Abraham Accords out of their policy of anti-...
  • Mark Frankel
    Tax the biggest casino of all, the City, with a financial transactions tax. This would not be revolutionary but an extension of stamp duty on share transfers....
  • Peter Davies
    Among those minorities are EU citizens with local voting rights. Getting them registered and voting for us for the assembly should be one of those "low hanging ...