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Shadow Business Secretary John Denham MP responding to David Cameron’s speech at the CBI conference today, said:

“Today's flimsy re-announcement of existing plans shows just how big a gamble the Tories are taking with their plan to cut one million jobs across private and public sectors.   

"Most elements of the plan - Crossrail and other transport schemes - had already been announced by Labour. High profile investments - like technology innovation centres which are based on Labour proposals.

“For all their talk about a new approach to promoting growth and jobs, Vince Cable's own department – the so called 'department for growth’ – has lost half its capital spending and a quarter of revenue spending, more than most other departments.  Regional economic growth funding has been cut by two thirds and it is now expected to pay for key transport and housing programmes as well.

“And business will now have to pick up the costs of training hundreds of thousands of employees a year.

“This is no real plan for growth.”

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