Chris Leslie MP, Labour’s Shadow Financial Secretary to the Treasury, in response to Vince Cable’s essay in the New Statesman, said:
“Vince Cable may at last be seeing sense. He is right to admit that there have been economic consequences to deep cuts to capital investment. But he has consistently supported a failing economic policy which has led to stagnation, falling living standards, slashed investment in infrastructure and rising borrowing to pay for the mounting costs of economic failure.
“Now is the right time to bring forward infrastructure investment and build thousands more affordable homes. It would kick-start our flatlining economy, create jobs and in the long-term strengthen our economy and help get the deficit down.
“Labour, business groups and even the IMF have spent the last two years making the case for this. If Vince Cable is finally coming round to that view he needs to start winning the argument round the Cabinet table, but his words today read like they have been written by a Secretary of State who despite being in office, is not in power.”