British Labour leader Ed Miliband has lambasted British Prime Minister David Cameron on his government’s economic policies, especially the falling living standards.
Speaking during the Prime Minister’s Questions at the House of Commons, Miliband said three years into Cameronâ„¢s Tory-led coalition government, the living standards are still falling.
Miliband said the situation clearly shows that the PM does not even know why his economic policies are failing to trigger growth.
Å“No answer from this prime minister on the living standards crisis that is facing families up and down the country,” he said.
Å“The reality is this. Day in day out what people see is prices rising, wages falling, while the prime minister tells them theyâ„¢re better off, he claims the economy is healing but for ordinary families life is getting harder, theyâ„¢re worse off under the Tories,” he added.
The opposition leader also touched on the recent figures that show salaries have been nose-diving by an average £1,300 each year after Cameron took over as PM in May 2010.
Miliband also suggested that Cameron is leading the country to an economic collapse quoting remarks by the MP for Leicestershire Northwest who described the economic situation in Britain to a crashing airplane.
Å“Itâ„¢s like being in an aero plane the pilot doesnâ„¢t know how to land. We can either do something about it, or sit back, watch the in-flight movies and wait for the inevitable,” he warned.
Britain has been grappling with a massive financial crisis since 2008 and forecasts show the situation is not getting better in the near future.
Earlier this month, key British thinktanks warned that Britons should be prepared to put up with more austerity measures at least by 2020, despite the governmentâ„¢s pledge to rein back public debt in a five-year spending cut program that end in 2015.
This is while, one of the thinktanks, the Institute for Fiscal Studies (IFS) warned that the public face further pressure as they will bear the brunt of a potential easing of cutbacks on government departments after 2015.
According to the EU statistics authority, Eurostat, Britain still has one of the highest budget deficits in the European Union despite massive spending cuts.
Eurostat figures showed in April that Britainâ„¢s ratio of budget deficit to gross domestic product (GDP) was 6.3 percent in 2012 that is only behind debt-ravaged Spain, Ireland, Greece and Portugal in the worst-performing EU economies.
This is only slightly better than the situation in 2009 in the wake of the financial meltdown when budget deficit comprised 11.5 percent of the GDP in 2009, which put it behind Ireland and Greece.
AMR/HE
This article originally appeared on: Press TV