UK Politics

Liberal Democratic Party: Scale of public borrowing shows lack of leadership from Labour says Cable

Press Release   •   Dec 18, 2009 11:28 GMT

“We need to be careful not to fall for Conservative remedies," said the Liberal Democrat Shadow Chancellor.

Commenting on official figures showing public borrowing hitting a record high for a single month in November, Vince Cable said:

“These figures confirm that when the economy does move out of recession there is a massive task ahead to sort out the public finances.

“It reinforces the lack of leadership given in the Government’s Pre-Budget Report, which gave no indication of how the deficit will be reduced in a systematic way.

“We need to be careful not to fall for Conservative remedies, which would involve sudden deep cuts in the public sector at a time when the economy is still very fragile and a very real risk of falling back into a continuing and deepening recession.”