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| No early swingeing cuts - Cameron | No early swingeing cuts - Cameron |
| (about 1 hour later) | |
| A Conservative government would not make "swingeing cuts" to public spending during its first year, party leader David Cameron has told the BBC. | A Conservative government would not make "swingeing cuts" to public spending during its first year, party leader David Cameron has told the BBC. |
| But he said it was right to "make a start" on cutting the deficit, to avoid the same "scale of problems" as Greece, whose public finances are in ruins. | But he said it was right to "make a start" on cutting the deficit, to avoid the same "scale of problems" as Greece, whose public finances are in ruins. |
| But Prime Minister Gordon Brown warned it was important not to "pull the rug" from the economy. | But Prime Minister Gordon Brown warned it was important not to "pull the rug" from the economy. |
| The budget deficit for this year is forecast to grow to £178bn. | The budget deficit for this year is forecast to grow to £178bn. |
| Figures released last week show that the UK economy came out of recession in the final quarter of 2009, but with a weaker than expected growth of 0.1%. | Figures released last week show that the UK economy came out of recession in the final quarter of 2009, but with a weaker than expected growth of 0.1%. |
| 'We are serious' | 'We are serious' |
| The scale of government debt is becoming one of the key issues in the lead-up to the general election. | The scale of government debt is becoming one of the key issues in the lead-up to the general election. |
| Labour says cutting spending now will damage the recovery, while the Tories argue that too much debt could imperil it. | Labour says cutting spending now will damage the recovery, while the Tories argue that too much debt could imperil it. |
| The Lib Dems say they are proposing £10bn more spending cuts than the government. | The Lib Dems say they are proposing £10bn more spending cuts than the government. |
| Gordon Brown's not a sort of TV personality. He's not sort of Terry Wogan or Des O'Connor in the way that some people see David Cameron Lord Mandelson Cameron like O'Connor - Mandelson Burglars forfeit rights - Cameron | |
| Outlining his party's plans, Mr Cameron told BBC One's Politics Show: "We're not talking about swingeing cuts. We're talking about making a start in reducing our deficit." | Outlining his party's plans, Mr Cameron told BBC One's Politics Show: "We're not talking about swingeing cuts. We're talking about making a start in reducing our deficit." |
| "You've got to make a start. Look, if we have an election in May, your year is already under way. | "You've got to make a start. Look, if we have an election in May, your year is already under way. |
| "You've got to make a start, we believe, in proving we're serious about getting this deficit down. | "You've got to make a start, we believe, in proving we're serious about getting this deficit down. |
| "And those who say you're taking money out of the economy, I would say, if you don't do this, even more money could be taken out of the economy in two ways. | "And those who say you're taking money out of the economy, I would say, if you don't do this, even more money could be taken out of the economy in two ways. |
| "One, because interest rates could go up as they have done in Greece. Secondly, money gets taken out of the economy because there isn't the confidence there and it's confidence we need so badly. | "One, because interest rates could go up as they have done in Greece. Secondly, money gets taken out of the economy because there isn't the confidence there and it's confidence we need so badly. |
| "People want to see a government that is taking decisions on a five-year horizon rather with this government taking things on a five-week or, some say, even five-minute horizon." | "People want to see a government that is taking decisions on a five-year horizon rather with this government taking things on a five-week or, some say, even five-minute horizon." |
| 'Albatross of debt' | 'Albatross of debt' |
| Mr Cameron did not give a projected figure for cuts to public spending, but promised to work with the Bank of England to "make sure we keep low those interest rates". | Mr Cameron did not give a projected figure for cuts to public spending, but promised to work with the Bank of England to "make sure we keep low those interest rates". |
| "What year one [of a government] has to have is a start to cutting the public spending programmes. | "What year one [of a government] has to have is a start to cutting the public spending programmes. |
| "But it should be done in conjunction with the monetary policy authorities because we want to make sure that those interest rates remain low." | "But it should be done in conjunction with the monetary policy authorities because we want to make sure that those interest rates remain low." |
| Appearing on the BBC's Andrew Marr Show, shadow chancellor George Osborne said "early action" was needed on the deficit to avoid a "Greek-style budget crisis". | Appearing on the BBC's Andrew Marr Show, shadow chancellor George Osborne said "early action" was needed on the deficit to avoid a "Greek-style budget crisis". |
| George Osborne and David Cameron seem to be at sixes and sevens on the crucial question of how the deficit should be addressed Vince Cable, Lib Dems | George Osborne and David Cameron seem to be at sixes and sevens on the crucial question of how the deficit should be addressed Vince Cable, Lib Dems |
| He insisted that it would be a "mistake" to wait until next year to begin tackling the "albatross of debt", as the government was planning to do. | He insisted that it would be a "mistake" to wait until next year to begin tackling the "albatross of debt", as the government was planning to do. |
| However, Mr Brown used his weekly podcast on the Downing Street website to warn that the economy still needed support and that cutting too soon risked tipping it back into recession. | However, Mr Brown used his weekly podcast on the Downing Street website to warn that the economy still needed support and that cutting too soon risked tipping it back into recession. |
| He said: "Return to strong, sustainable global growth is still some way off. So I can reassure you that we are not about to jeopardise Britain's economic future by suddenly pulling the rug from under the recovery. | He said: "Return to strong, sustainable global growth is still some way off. So I can reassure you that we are not about to jeopardise Britain's economic future by suddenly pulling the rug from under the recovery. |
| "We will continue with the measures we have put in place that are supporting families and businesses and we will continue to invest willingly and whole-heartedly in this country's future - and I will make no excuse for that. | "We will continue with the measures we have put in place that are supporting families and businesses and we will continue to invest willingly and whole-heartedly in this country's future - and I will make no excuse for that. |
| "Only with this radical approach and a plan for prosperity for all can we deliver renewed growth, jobs and opportunities for all." | "Only with this radical approach and a plan for prosperity for all can we deliver renewed growth, jobs and opportunities for all." |
| Speaking on The Politics Show, Business Secretary Lord Mandelson said: "It is talking Britain down when David Cameron compares Britain ludicrously in everyone's eyes to Greece, and when George Osborne describes Britain as an exhausted runner at the back of a long marathon race unable to summon the strength to build our economy. | Speaking on The Politics Show, Business Secretary Lord Mandelson said: "It is talking Britain down when David Cameron compares Britain ludicrously in everyone's eyes to Greece, and when George Osborne describes Britain as an exhausted runner at the back of a long marathon race unable to summon the strength to build our economy. |
| "That is disgraceful. It is irresponsible. It's also unpatriotic." | "That is disgraceful. It is irresponsible. It's also unpatriotic." |
| Liberal Democrat Treasury spokesman Vince Cable said: "George Osborne and David Cameron seem to be at sixes and sevens on the crucial question of how the deficit should be addressed. | Liberal Democrat Treasury spokesman Vince Cable said: "George Osborne and David Cameron seem to be at sixes and sevens on the crucial question of how the deficit should be addressed. |
| "The public must understand that we take the deficit very seriously. But it has to be addressed in a way that doesn't put us back into another round of recession, resulting in job losses and an even larger deficit. | "The public must understand that we take the deficit very seriously. But it has to be addressed in a way that doesn't put us back into another round of recession, resulting in job losses and an even larger deficit. |
| "The time to cut the deficit is when the private sector is ready to take the lead in growth and job creation. We are clearly not at that point yet." | "The time to cut the deficit is when the private sector is ready to take the lead in growth and job creation. We are clearly not at that point yet." |