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Chris Leslie MP, Labour's Shadow Financial Secretary to the Treasury, commenting on the IFS briefing on the forthcoming spending review, said:

“The catastrophic failure of this Government's economic policies is the backdrop to the spending review. Under David Cameron we've had falling living standards and slow growth which is why, as the IFS says, we are no closer to getting the deficit down than three years ago.

“The Government must finally act to get our economy moving with a long-term plan for jobs and growth, as Labour and the IMF have urged. Action now would boost people’s incomes, help get the deficit down and mitigate the scale of the cuts needed in the next Parliament.

“The longer David Cameron and George Osborne plough on regardless, the more difficult the inheritance Labour will face in 2015.”

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