Economic “excuses” amid fears of fresh slowdown

Labour leader Ed Miliband said David Cameron’s attempts to blame global economic forces for the threat facing the UK economy showed the Government’s plan for the economy was failing.

The Labour leader told the Commons the Prime Minister had switched from his previous view that problems in the British economy were all to do with the government and not international factors.

Mr Miliband added Mr Cameron needed to stop “blaming everybody else” for Britain’s economy helping a few people at the top but not delivering for “most working people”.

Mr Cameron, making a statement following his visit to the G20 gathering in Australia, said he would defend and “take some credit” for what is happening in the British economy, adding to the Labour leader: “Can I say what a pleasure it always is to get back to Britain and find some things haven’t changed - our language, the beauties of our climate and that crucially you are still in your place?”

In a bleak assessment following the G20 gathering of international leaders in Brisbane, Mr Cameron warned a fresh global economic disaster could be looming as he urged Britons to back his plan to ensure stability in the UK.

The Prime Minister said “red warning lights are once again flashing on the dashboard of the global economy” six years on from the crash that “brought the world to its knees”.

Mr Miliband told Mr Cameron: “Today you tell us there are red lights flashing in the global economy.

“I think that is what is known as getting your excuses in early.

“You used to tell us that the problems in the British economy were all to do with the British government and nothing to do with international factors.

“Now, you want to tell us that on your watch they’re all to do with international factors and nothing to do with the British government. Isn’t the truth that before you went to Brisbane we already knew your export targets were off track and the trade deficit is the highest it’s been for 25 years?

“Isn’t it time you stopped blaming everybody else for an economy that’s great for a few people at the top but isn’t delivering for most working people?”