Scale of public borrowing shows up the lack of leadership from Labour

12.07.00pm GMT Fri 18th Dec 2009

Commenting on official figures showing public borrowing hitting a record high for a single month in November, Liberal Democrat Shadow Chancellor, Vince Cable said:

"These figures confirm that when the economy does move out of recession there is a massive task ahead to sort out the public finances.

"It reinforces the lack of leadership given in the Government's Pre-Budget Report, which gave no indication of how the deficit will be reduced in a systematic way.

"We need to be careful not to fall for Conservative remedies, which would involve sudden deep cuts in the public sector at a time when the economy is still very fragile and a very real risk of falling back into a continuing and deepening recession."