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Cable hits out at Cameron for repetitive stance on clearing UK debt

Liberal Democrat Shadow Chancellor Vince Cable has criticised David Cameron for his repetitive stance on reducing the UK’s debt.

Cable has hit out at Conservative leader David Cameron for stirring up an undesirable debate with his “political soundbites” on the budget deficit.

He says: “This tired repetition of the Tory line leads us into a very undesirable debate in which the speed and the extent of deficit reduction is being decided not on the basis of how the economy is looking and performing but on the basis of political soundbites and dogma.

“The time to start cutting the budget deficit and its speed must be decided by a series of objective tests which include the rate of recovery, the level of unemployment, the availability of credit to businesses and the Government’s ability to borrow in international markets on good terms.”

Cable adds: “The sooner we get this debate on to a rational footing, the better the prospects for Britain’s recovery.”

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  1. While I respect Vince Cable’s economic competence he appears to misunderstand David Camerons proposals. DC believes that cutting the deficit will actually speed up the recovery as the existence of the deficit is a drag on recovery not least because of its servicing costs. In fact a credible deficit reduction programme is key to the UK retaining its credit rating. The important difference is DC is lnking these to cuts in the public sector and promoting enterprise in a way that Labour could never conceive.So Vince get behind DC and you may even get to influence policy if the Lib Dems become ‘kingmaker’ in a hung parliament!!

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