Government must be clear about where axe will fall says Cable

"If politicians are to have any credibility with both ordinary people and the markets, they must be honest about where spending cuts will be made," said the Liberal Democrat Shadow Chancellor.

Commenting on ONS figures showing that public borrowing increased to £15.7bn in December 2009, reaching a total of £142.6bn for the calendar year, Vince Cable said:

"With Government borrowing at record levels it is critical that there is a clear plan to deal with the budget deficit.

"The Government's timetable for paying down the deficit is simply dodging the issue of where the axe will have to fall in public spending.

"If politicians are to have any credibility with both ordinary people and the markets, they must be honest about where spending cuts will be made.

"The Liberal Democrats are the only party setting out where public spending would be reduced, for example through cutting the Child Trust Fund, quangos and the cost of government and through public sector pay restraint."