Cameron Attacks Labour Over Economy 'Failure'

Conservative Leader David Cameron has launched an attack on Prime Minister Gordon Brown saying he "cannot hide" from his responsibility for Britain's current economic crisis.

Speaking to an audience in the City of London, the Tory leader said that while his party supported Mr Brown's rescue package for the banking sector, he added he wanted to make it "crystal clear" that was as far as his their support would go, saying the PM's wider economic policies were a "complete and utter failure".

"This crisis has highlighted just how mistaken Labour's economic policy has been," Mr Cameron said.

He also condemned "irresponsible" decisions made by Mr Brown when he was Chancellor, led to a period of "irresponsible capitalism presided over by irresponsible government".

He went on to promise the Conservatives would clamp down on reckless behaviour by bankers, and called for "responsible free enterprise, regulated and supported by responsible government".

The Tory leader also criticised the "unsustainable" immigration-fuelled growth and the downturn of manufacturing jobs.

He said: "Some people think that this decision - to support recapitalisation - means that we somehow now subscribe to the Government's entire economic policy and doctrine. Let me make it crystal clear - we do not.

"And the complete and utter failure of their economic record has never been more clear to see."

In his speech at Bloomberg on Friday, the Opposition Leader said he wanted to see tougher regulation on the banking sector and called for changes to the insolvency laws to protect businesses which are sound but struggling.

While his party has backed Labour's multi-billion pound scheme as the best of bad options, Mr Cameron is not keen to allow the PM - who has enjoyed a surge in popularity over his handling of the crisis - to continue to make 'political capital' from it.

"As we look at the wreckage of our economy after 10 years of irresponsible Government, it's clear that if we're going to make the most of these resources we need change - not more of the same," he said.

"Gordon Brown is hoping that his whirlwind of summitry will mean that we forget what has come before.

"Forget that - as we enter a downturn, where jobs, home and livelihoods will be lost - that he was the one who created this mess in the first place."

He added: "But I won't forget - and the British people won't forget."

Meanwhile, Chief Secretary to the Treasury, Yvette Cooper, accused the Tory leader of indulging in "juvenile political games".

She said: "It is ever more clear that the strategy of bipartisanship adopted by David Cameron at his party conference was just a short term gimmick to get on the news, exactly the same rationale as his intervention today.

"But at a time when the British people want calm leadership and serious policies to get through tougher times, David Cameron is engaged in playing juvenile political games."

(JM)