Angela Eagle MP, Labour’s shadow chief secretary to the Treasury, said in response to Vince Cable’s interview on the Andrew Marr Show:
"Vince Cable talks tough but acts weak. He says enormous bank bonuses are offensive, so why is the Tory-led government giving the banks a tax cut this year compared to last?
"And why are Vince Cable and George Osborne refusing to adopt Labour's plan to repeat last year's £3.5 billion bank bonus tax? We would use the money raised to support the jobs and growth Britain badly needs this year.
"With unemployment and inflation both now rising and the recovery stalled it's increasingly clear George Osborne's reckless plan to cut too far and too fast isn't working. He needs a plan B that puts jobs and growth first, because getting the economy moving again and more people into work is the best way to get the deficit down."