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| Tories blast 'green shoots' claim | Tories blast 'green shoots' claim |
| (10 minutes later) | |
| Business minister Baroness Vadera's comment that she could see "a few green shoots" of recovery have been attacked by the Tories as "insensitive". | Business minister Baroness Vadera's comment that she could see "a few green shoots" of recovery have been attacked by the Tories as "insensitive". |
| Shadow business secretary Alan Duncan said the comments, made to ITV News, showed ministers were "out of touch". | |
| She said it was still early but she was "seeing a few green shoots". | |
| In 1991 then chancellor Lord Lamont was much criticised for saying he detected "the green shoots of economic spring", which was regarded as premature. | In 1991 then chancellor Lord Lamont was much criticised for saying he detected "the green shoots of economic spring", which was regarded as premature. |
| Baroness Vadera was asked when the UK could expect to see some "green shoots" and replied: "It's a very uncertain world right now globally... I wouldn't want to be the one predicting it." | Baroness Vadera was asked when the UK could expect to see some "green shoots" and replied: "It's a very uncertain world right now globally... I wouldn't want to be the one predicting it." |
| "I am seeing a few green shoots but it's a little bit too early to say exactly how they'd grow." | "I am seeing a few green shoots but it's a little bit too early to say exactly how they'd grow." |
| 'Unsuitability' | 'Unsuitability' |
| Mr Duncan said: "Shriti Vadera's comments go to show how out of touch and insensitive Gordon Brown's ministers are." | Mr Duncan said: "Shriti Vadera's comments go to show how out of touch and insensitive Gordon Brown's ministers are." |
| He said she had "just advertised her own unsuitability for addressing the difficulties that the victims of Gordon Brown's recession are facing". | He said she had "just advertised her own unsuitability for addressing the difficulties that the victims of Gordon Brown's recession are facing". |
| It came as Barclays announced it was to cut 2,100 UK jobs, Jaguar Land Rover said it was cutting 450 staff and administrators of music chain Zavvi announced it would close a further 18 stores, with the loss of 353 jobs. | It came as Barclays announced it was to cut 2,100 UK jobs, Jaguar Land Rover said it was cutting 450 staff and administrators of music chain Zavvi announced it would close a further 18 stores, with the loss of 353 jobs. |
| Lord Hunt of Wirral, the shadow business spokesman in the Lords, said Baroness Vadera's view of the economy was extremely "rose-tinted". | Lord Hunt of Wirral, the shadow business spokesman in the Lords, said Baroness Vadera's view of the economy was extremely "rose-tinted". |
| And Business Secretary Lord Mandelson said he believed the UK was "some way from the end of the road" in dealing with the economic fallout from the banking crisis. | And Business Secretary Lord Mandelson said he believed the UK was "some way from the end of the road" in dealing with the economic fallout from the banking crisis. |
| Announcing proposals to guarantee loans for small businesses, he described the current situation as the "biggest and most complex" financial shock the world had ever experienced. | Announcing proposals to guarantee loans for small businesses, he described the current situation as the "biggest and most complex" financial shock the world had ever experienced. |
| The PM is running around like a headless chicken from one bogus announcement to another and doing nothing for confidence David Cameron Small business loan plan unveiled | The PM is running around like a headless chicken from one bogus announcement to another and doing nothing for confidence David Cameron Small business loan plan unveiled |
| At prime minister's questions Conservative leader David Cameron challenged Mr Brown to repeat predictions made "just seven weeks ago" that the economy would start to grow again at the end of June. | At prime minister's questions Conservative leader David Cameron challenged Mr Brown to repeat predictions made "just seven weeks ago" that the economy would start to grow again at the end of June. |
| Mr Cameron said the reason the predictions were out was because they were based on the temporary 2.5% VAT cut working but it had proved an "expensive failure" which had been "condemned" by retailers. | Mr Cameron said the reason the predictions were out was because they were based on the temporary 2.5% VAT cut working but it had proved an "expensive failure" which had been "condemned" by retailers. |
| He said: "It is not just that the PM is running around like a headless chicken from one bogus announcement to another and doing nothing for confidence. | He said: "It is not just that the PM is running around like a headless chicken from one bogus announcement to another and doing nothing for confidence. |
| "Isn't the worst thing of all this; by spending £12.5bn by cutting VAT isn't he just building up debts for Britain's children in a vain attempt to save his own skin?" | "Isn't the worst thing of all this; by spending £12.5bn by cutting VAT isn't he just building up debts for Britain's children in a vain attempt to save his own skin?" |
| And former trade minister Lord Jones said the government should be "big enough" to admit the VAT cut had failed and to rescind it - instead spending the money on providing credit to businesses. | And former trade minister Lord Jones said the government should be "big enough" to admit the VAT cut had failed and to rescind it - instead spending the money on providing credit to businesses. |
| 'Achieving nothing' | 'Achieving nothing' |
| Mr Brown said a VAT cut had been backed by the former Conservative chancellors Ken Clarke and Lord Lamont - something Mr Cameron disputed. | Mr Brown said a VAT cut had been backed by the former Conservative chancellors Ken Clarke and Lord Lamont - something Mr Cameron disputed. |
| He added: "You may think VAT is unimportant but at the end of every week a typical family has more than £5 extra in their pocket. That may not matter to the Tories. But that's £275 a year, more money for everyone in the community, not just for the few that you support." | He added: "You may think VAT is unimportant but at the end of every week a typical family has more than £5 extra in their pocket. That may not matter to the Tories. But that's £275 a year, more money for everyone in the community, not just for the few that you support." |
| Mr Cameron went on to criticise the government for adopting a "pale imitation" of the Tories' own £50bn loan guarantee scheme and said policies, like the VAT cut and stamp duty holiday, were "achieving nothing". | Mr Cameron went on to criticise the government for adopting a "pale imitation" of the Tories' own £50bn loan guarantee scheme and said policies, like the VAT cut and stamp duty holiday, were "achieving nothing". |
| The whole Conservative Party policy is to cut public spending when they need it Gordon Brown Barclays planning 2,100 job cutsZavvi to close another 18 storesJaguar Land Rover cuts 450 staff | The whole Conservative Party policy is to cut public spending when they need it Gordon Brown Barclays planning 2,100 job cutsZavvi to close another 18 storesJaguar Land Rover cuts 450 staff |
| But Mr Brown said he offered "real help now" and accused the Conservatives of being "isolated" in their approach - he says they would cut public spending - and said it was a global financial crisis happening across the world. | But Mr Brown said he offered "real help now" and accused the Conservatives of being "isolated" in their approach - he says they would cut public spending - and said it was a global financial crisis happening across the world. |
| To Tory jeers, he said: "Nobody is copying the Conservative party economic policy. You like to think people are. France is not copying the Conservative policy, Germany is not copying the Conservative economic policy, the present administration in America is not copying the Conservative policy, the future government in America is not copying the Conservative party." | To Tory jeers, he said: "Nobody is copying the Conservative party economic policy. You like to think people are. France is not copying the Conservative policy, Germany is not copying the Conservative economic policy, the present administration in America is not copying the Conservative policy, the future government in America is not copying the Conservative party." |
| He added: "The whole Conservative Party policy is to cut public spending when they need it - you cannot fund support for business without the public expenditure to make it possible." | He added: "The whole Conservative Party policy is to cut public spending when they need it - you cannot fund support for business without the public expenditure to make it possible." |
| Liberal Democrat leader Nick Clegg questioned the government's plan to guarantee up to £20bn of loans to small and medium firms. | Liberal Democrat leader Nick Clegg questioned the government's plan to guarantee up to £20bn of loans to small and medium firms. |
| He said: "Tax payers have already had to sink £37bn pounds into our banks to get them lending again. So today they'll be wondering why on earth they should risk a further £10bn just to get the banks to do what they promised to do in the first place? | He said: "Tax payers have already had to sink £37bn pounds into our banks to get them lending again. So today they'll be wondering why on earth they should risk a further £10bn just to get the banks to do what they promised to do in the first place? |
| "So why is the prime minister playing copy cat with the leader of the Conservatives, when he should be playing hardball with the banks?" | "So why is the prime minister playing copy cat with the leader of the Conservatives, when he should be playing hardball with the banks?" |