Party Lines: November 12th

By Mark Ferguson / @markfergusonuk

Alan Johnson said that the momentum behind global co-operation has stalled, as the G20 meeting came to an end in Seoul:

“Two years ago the world’s leaders showed that they could act together in the face of an economic crisis. Those risks remain, but this week’s G20 summit has made painfully clear that the momentum behind necessary cooperation has badly stalled.”

“At stake is the recovery of the world economy, and jobs back here in the UK. Leaders have failed in their core task – to show that the political will is there to make a difference.”

John Denham said that the coalition has “given up on growth”, after Vince Cable labelled government plans “Maoist and chaotic“:

“It is becoming impossible to find anyone who will say a good word about the government’s so called plan for regional growth, even their own Ministers.”

“While Vince Cable shows some honesty at the mess he is overseeing, this is little comfort for businesses which are experiencing uncertainty and chaos. Far from supporting growth, the government is harming the prospects of job creation and economic development – it is a damning failure.”

“And with Vince Cable and Eric Pickles at odds over what to do, the Business Secretary has allowed business interests to be ignored. The government has given up on growth and now admits it.”

Angela Eagle responded to the eurozone GDP figures released today, and said that they show the fragility of the world economy:

“Today’s European growth figures demonstrate very clear the fragility of the world economy. Growth has more than halved in the third quarter. And this matters for us here in the UK because Europe is the destination for more than half of our exports.”

“With these worrying signs, the last thing the Government should be doing is stripping demand out of our economy now. It is a gamble with growth and jobs we shouldn’t be taking.”