Chris Leslie MP, Labour’s shadow chief secretary to the Treasury, commenting ahead of David Cameron’s speech on the economy, said:

“It comes to something when the Prime Minister desperately wants to divert attention away from his own Autumn Statement. But David Cameron must today come clean about what his plans for after the election really mean for public services. He and George Osborne want to make deeper cuts which, as the OBR has said, will take Britain back to 1930s public spending as a share of GDP.

“And he must also come clean about how he will pay for £7 billion of unfunded tax promises on top of these plans. Will it be paid for by even deeper cuts to public services or another Tory VAT rise?

“David Cameron’s claims about Labour are desperate nonsense from a Prime Minister who has broken all his promises on the economy. He is now even attacking the very fiscal rule he originally promised but failed to deliver on.

“His failure to deliver rising standards is why he has broken his promise to balance the books and get the national debt down. He and George Osborne have now borrowed over £200 billion more than they planned.

“Labour’s plan will cut the deficit each year, get the national debt falling and the current budget into surplus as soon as possible in the next Parliament. Our tough but balanced approach contrasts with a Tory plan that has failed in this Parliament and would cause huge damage to our vital public services in the next.”

ENDS