This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/uk_politics/8490924.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Mandelson warns about Tory plans | |
| (10 minutes later) | |
| A Conservative government would "strangle the recovery at birth", Lord Mandelson has said. | A Conservative government would "strangle the recovery at birth", Lord Mandelson has said. |
| The business secretary claimed Tory plans for spending cuts would take £11bn out of the economy this year. | |
| He likened party leader David Cameron and shadow chancellor George Osborne to "Laurel and Hardy", who had "not done the work needed" for government. | He likened party leader David Cameron and shadow chancellor George Osborne to "Laurel and Hardy", who had "not done the work needed" for government. |
| The Conservatives have accused Labour of failing to deal with an "albatross of debt". | The Conservatives have accused Labour of failing to deal with an "albatross of debt". |
| The economy came out of recession during the final quarter of 2009, but grew by just 0.1%, a lower than expected rate. | |
| 'Illiteracy' | |
| The public spending deficit is expected to grow to £178bn this year and is set to be one of the key battlegrounds at the coming general election. | |
| On Sunday, Mr Cameron said there would be cuts within the year if the Conservatives gained power, but these would not be "swingeing". | |
| People want to see a government that is taking decisions on a five-year horizon rather than with this government taking things on a five-week or, some say, even five-minute horizon David Cameron | |
| At a Labour event in central London, Lord Mandelson accused the Tories of economic "illiteracy" and appearing "confused". | |
| He said: "This is the paradox of government thrift. We learned about it in the 1930s. It seems to be totally lost on the Conservative Party." | |
| Lord Mandelson said the Tories would take "£11bn out of the economy in the coming financial year. | |
| "That's the equivalent of more than halving the budget of my department... or cutting investment in health or schools." | |
| He added: "The challenge for the Conservative Party is to be clear about its intended plans. | |
| "How much is it planning to take out of this year's spending? So far all we see is disarray." | |
| 'Serious' | |
| Lord Mandelson added: "Mr Cameron appeared to back down. He appeared to say that the spending cuts would be 'not extensive'. But what does 'not extensive' mean exactly?" | |
| He said: "He said 'we need to make a start, we are not talking about swingeing cuts'... So what's the truth? What's the Tories' policy?" | |
| Lord Mandelson also said: "Quite simply, the Tories would strangle the recovery at birth." | |
| On Sunday, Mr Cameron said: "Look, if we have an election in May, your year is already under way... 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. | |
| "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 than with this government taking things on a five-week or, some say, even five-minute horizon." |