Friday, 25 January 2013

Clegg - Coalition was wrong to cut capital spending

Nick Clegg 
Mr Clegg said evidence showed more capital spending would help the economy
The deputy PM told The House magazine that ministers had reassured themselves at the time that the reduction was in line with plans drawn up by Labour.
But they now realised investment in infrastructure was crucial for economic recovery, he added.
His comments came on the eve of fresh GDP figures - which may show the UK economy is contracting once again.If the figures show the economy shrank in the final three months of 2012 they will be held to show that Britain risks suffering a "triple-dip" recession.
Labour said Mr Clegg's comments were the coalition's first admission of a "serious mistake" on the economy.

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