Osborne's proposals are Lib Dem Lite says Vince Cable

11.18.16pm BST (GMT +0100) Thu 8th Oct 2009

"Osborne has in effect guaranteed that these policies will merely pave the way for a return to traditional Tory politics," said the Liberal Democrat Shadow Chancellor.

Commenting on George Osborne's address to Tory party conference, Vince Cable said:

"This set of deficit reduction proposals is Lib Dem Lite.

"The sum total amounts to nothing more than a drop in the ocean and will not deal with the structural deficit.

"What is more, Osborne has in effect guaranteed that these policies will merely pave the way for a return to traditional Tory politics - hitting the public sector now to pay for tax cuts for millionaires later.

"Only the Liberal Democrats have made a commitment to bringing public spending under control whilst making taxes fairer across the board."