Yvette Cooper MP: Cameron’s proposal for spending cuts is economic madness

Yvette Cooper MP, Labour’s Chief Secretary to the Treasury, responding to David Cameron’s speech today, said:

“David Cameron’s proposal for spending cuts in a recession is economic madness.

“This means cuts in support for the unemployed to get back into work, cuts in training and apprenticeships, business, housing, transport and regeneration. And it also means cuts in things like the police, Sure Start, funding for local councils and important investment in our future.

“At a time when President-elect Obama, and governments across the world are increasing public spending to support jobs and the economy, the Conservatives are completely isolated in calling for spending cuts.

“Nor will their tax proposals help most people or businesses get through the recession.

“Almost 60% of pensioners won’t benefit from this as they already pay no tax…

Cooper: Cameron would repeat mistakes of the past

Yvette Cooper MP, Labour’s Chief Secretary to the Treasury, launching a Labour analysis of Cameron’s do nothing approach to the global economic challenges, said today:

“David Cameron is making empty promises to hide the fact that the Conservatives would do nothing to help the British economy, and once again would turn their backs on the British people in difficult times.

“The cruelest of his empty promises is a loans scheme to business when he also rules out providing the money to fund it.

“The fact is every economy in the world will face real challenges in 2009. That’s why it’s so important to provide British families and businesses with real help to get through the downturn sooner and stronger.

Labour challenges Tory frontbenchers to defy David Cameron’s ‘do nothing’ approach

Ministers warn that speeded up investment in key services would be abandoned under Tory plans.

Labour Ministers today wrote to Conservative Shadow Cabinet members, challenging them to reveal if they support David Cameron’s cuts to key investment projects that Labour has brought forward to help Britain through the current economic downturn.

£800 million investment in schools and £100 million of improvements in GP surgeries are among the projects that will Labour is bringing forward to help stimulate the economy and improve services. David Cameron has made clear he opposes Labour’s economic stimulus and the Conservatives have voted against the government’s Pre-Budget Report that introduced the measures.

Liam Byrne MP: Cameron’s team distracted by lucrative second jobs

Liam Byrne, Labour’s Cabinet Office Minister, commenting on David Cameron’s decision to allow his shadow cabinet to keep their lucrative second jobs, said:

“While Labour is focused on giving people real help now to get through the downturn, David Cameron’s part-timers have one eye on their other jobs.

“With so many of Cameron’s team distracted by lucrative second jobs it’s no wonder that the do-nothing party has so little to say about the economy.”

Labour slams Cameron’s £7 tax on filling up a family car

Today’s average petrol price figures mean that David Cameron’s ‘fuel duty stabiliser’ would put 10p on the price of a litre of unleaded fuel.

Geoff Hoon MP, Labour’s Transport Secretary, said:

“David Cameron wants to hit people driving home for Christmas with an extra £7 tax to fill up an ordinary family car.

“He made a reckless, novice policy to win headlines in July, but now he is committed to putting an extra 10p on the cost of every litre of petrol - that’s £7 more each time to fill up a Mondeo.

“We’re giving people real help now with lower VAT and a tax cut for basic rate taxpayers, but David Cameron opposes all of that and instead wants to hike up the cost of driving.”

Stephen Timms MP: Osborne’s empty promises are a cruel con

Labour’s Financial Secretary to the Treasury, Stephen Timms MP, responding to George Osborne’s incorrect claims about how business loan guarantee schemes work during Treasury Questions today, said:

“George Osborne’s empty promises will do nothing to help people or business today.

“He has shown he doesn’t understand how business guarantee schemes work when he says it ‘did not add to public expenditure’.

“Such schemes require public spending at the point any participating firm defaults and the bank calls in the guarantee from government.

“The Tories have promised a scheme and then ruled out finding the money to fund it. Promises the Conservatives refuse to pay for are nothing but a cruel con.

“We’re offering real help to businesses - not empty promises from a do nothing Tory party.”

James Purnell MP: Cameron is wrong to say he won’t reform welfare

Reacting to David Cameron’s opposition to Labour’s welfare reforms, James Purnell has accused David Cameron of being “wrong on welfare reform”. The Tories have now set themselves against Labour’s proposals to help lone parents off benefits and to require heroin and crack addicts on benefits to seek treatment.

James Purnell MP, Labour’s Work and Pensions Secretary, said:

“Cameron is wrong on welfare reform. He bangs on about Britain being broken but he would do nothing to help people off benefits.

“We want everyone on benefits to do something in return for their money - including asking lone parents to take active steps to prepare for a return to work - he is happy for people to do nothing.

Treasury Minister: Cameron “repeating the do-nothing mistakes of the past”

Ian Pearson, Labour’s Treasury Minister, responding to David Cameron’s Reuters speech today said:

“Cameron’s words can’t cover up the fact that he is committed to repeating the do-nothing mistakes of the past.

“The Government takes all forms of crime seriously, including financial crime. For example, we are giving the FSA new powers to plea bargain with employees to help the FSA police the City, and extended the scope of the FSA in 2004 to cover mortgages.

“This is building on a framework which the Tories opposed, and which gave the FSA legal powers to tackle financial crime and investment fraud, insider dealing and market abuse.

“The creation of the FSA as a single regulator made the UK the first major financial international centre to do this.”

Lord Sainsbury of Turville donates £500,000 to Labour

The Labour Party received a boost today when Lord Sainsbury of Turville generously donated £500,000 to its funds.

This follows the Labour Party’s recently announced new financial and organisational strategy. Developed by General Secretary Ray Collins, the new arrangements will see donations to the party used in support of its campaigning work. This caps a year of progress towards putting the Labour Party’s finances on a stable footing for the long term.

Lord Sainsbury of Turville said:

“I am giving to the party today confident that my donation will be used where it counts, supporting the Labour Party’s campaigns.

“Ray Collins and the Labour Party have done a great deal to put the party on a sound financial and organisational footing in recent months and it has convinced me that now is the time to give.”

Cameron offers no real help for pensioners

Stephen Timms MP, Labour’s Treasury Minister, responding to David Cameron’s comments in today’s Telegraph, said:

“Unless the Conservatives can explain how they will pay for this commitment, it remains an empty promise - for all Cameron’s warm words he opposed Labour’s measures to give real help now to pensioners. The fact remains the Tories would do nothing to help families and business.

“Cameron cannot hide the fact that he is a do nothing leader of a do nothing party. The Labour Government is giving all pensioners real support through the tough times, including giving every pensioner £60 in January - a measure that the Tories opposed.”