Miliband: "The Chancellor has lashed himself to the mast" over economy

Ed Milliband MP speaking at the Labour Party c...

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ED MILIBAND slammed the Prime minister and the Chancellor for being complacent over the economy in Prime minister’s questions.

It’s the first time in PMQs for a while that the Labour leader has plucked up the courage to tackle the economy.

On Monday, Ed Balls had apologised for Labour’s role in the banking crisis, which struck in 2008 under Gordon Brown – in reaction to the Independent Commission Report on Banking by Sir John Vickers.

Miliband told David Cameron that obviously, for the Tory PM, like previous Tory PM’s, unemployment was a price worth paying for him.

His attacks on the economy come as unemployment today has risen to just under 80,000 with more than 2.51 million out of work.

The PM said the figures were disappointing, but that the coalition was pushing ahead with cutting Britain’s debt – a huge legacy left by the last government. Cutting the debt Cameron said would enable future generations to be able to have better opportunities.

Miliband, who was heckled yesterday at the TUC conference, for not being a puppet on a string for the unions, who are balloting members on possible Winter strikes, said that the coalition policy on the economy was just not working.

He said: “The Chancellor of the Exchequer has lashed himself to the mast, and not for the first time, either, I’m sure.”

Deputy Labour leader Harriet Harman was giggling like a little child at her leader’s poignant joke – given that the Chancellor enjoys sunning himself on plush Yachts.

The Labour leader said that at the time of the general election, youth unemployment had fallen, but under the coalition, it was rising.

He said that it was results that they wanted to see, and not spin regarding Cameron’s Work Program.

Miliband said that the PM’s plan of cutting the public sector, and relying on growth in the private sector, was just not working.

The shadow Chancellor Ed Balls claimed earlier on in the week that a temporary cut in VAT would help improve Britain’s retail sector.

Cameron mocked Miliband though today by saying he was flip flopping on the economy, as he apparently said yesterday to the TUC that you don’t “spend” your way to a healthy economy. Now, 24 hours on, Cameron claimed Miliband had done a u-turn.

The Punch ‘N’ Judy politics over the UK’s struggling economy comes as inflation, (the cost of living), has continued to rise under the coalition, and hit 4.5% this year.

The Bank of England expects it to rise to 5% by the end of the year.

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