Chuka Umunna MP, Labour’s Shadow Business Secretary, responding to Vince Cable’s speech warning of the “dangers” of “complacency generated by a few quarters of good economic data”, said:

“This is an embarrassing slapdown to George Osborne’s deeply complacent and out of touch speech this week.

“But it also reminds everyone that you can’t trust a word the Lib Dems say. Vince Cable has supported the Chancellor’s policies which choked off the recovery in 2010. Three wasted years of flatlining that has left families worse off and done long term damage to our economy is his record and he should take responsibility for it.”