David Cameron to unleash econ0mic dynamism
DAVID Cameron sounded an upbeat note about Britain’s economic prospects yesterday, pledging a “relentless focus on growth” and to unleash a “new economic dynamism”.
The Prime Minister, addressing the Confederation of British Industry conference in London, urged business leaders to put profits into innovation.
Seeking to shift the focus from the £81billion of public cuts announced last week, he stressed the Government was still pumping cash into capital projects and announced £200million investment over four years to bring together universities and business.
Mr Cameron spoke ahead of official figures today that are forecast to re-ignite fears of a double dip recession by showing growth slowed sharply in the past three months.
But Business Secretary Vince Cable raised eyebrows in his own speech to the CBI just hours after Mr Cameron’s, by appearing to mock his Tory superior’s past economic judgment.
Mr Cable told the conference: “Even my Conservative coalition colleagues were busy developing policies about ‘sharing the proceeds of growth’; the assumption, widely shared, being that strong growth was bound to continue.
“Those of us who were worrying publicly about the unsustainable build-up of household debt, the housing bubble …were regarded as party poopers.”
Labour leader Ed Miliband told the CBI the Government’s deficit-reduction package risked recovery and was “a big gamble with growth and jobs”.