Mandelson attacks Tories’ economic “illiteracy”

By Alex Smith / @alexsmith1982

At a specially convened press conference at Victoria Street this morning, Lord Mandelson has attacked Tory “confusion and disarray” over their plans for the economy.

Mandelson said David Cameron had retreated over plans to reduce the £178 billion budget deficit and that the Tories are “totally confused” about their economic policies:

“The Tories are applying either a dishonest rhetorical gloss…or a remarkable intellectual collapse. Either way it doesn’t inspire confidence in this Laurel and Hardy duo… [David Cameron] keeps feeding us the home spun comparisons betwen the government budget and families’ budget. I’m sure it sounds good as a soundbite but as a piece of economic analysis it is illiterate.”