Sleaford MP Stephen Phillips criticises Labour economy policies ahead of budget
SLEAFORD MP Stephen Phillips has criticised Labour's policies on the economy.
Speaking ahead of the Budget, at Prime Minister's Questions on Wednesday, Mr Phillips asked how Britain would stand alongside other economies such as Brazil, Russia, India and China if the Government was to abandon its deficit reduction programme as the Opposition recommends.
Responding, Prime Minister David Cameron, said: "My hon. and learned Friend makes an important point. One of the most important reasons for continuing to get our deficit down is that it is absolutely essential to have the low interest rates that are essential for home owners and for businesses.
"If we listened to the Labour party and abandoned those plans, we would have more spending, more borrowing and more debt - exactly the things that got us into this mess in the first place."
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Commenting afterwards, Mr Phillips said: "Labour are clinging to a fantastical set of policies that rely on money that we simply don't have thanks to the financial mess this government inherited from them.
"Ed Miliband and Ed Balls are the architects of the crisis we now face and all they can suggest to try to get their hands on the keys to Downing Street are proposals that spend more and more without saying where this money will be coming from.
"It is totally irresponsible to claim that there is an alternative to reducing the deficit, and it's about time Labour acknowledged that and stopped making promises they can't keep."