Clegg appeals to disenchanted Labour voters

Nick Clegg has called on disillusioned former Labour supporters to back the Liberal Democrats in his first leader's speech to an autumn party conference.

Describing Gordon Brown's government as "finished" and the Conservatives as a "say everything, do nothing" party, he told delegates the Lib Dems are the only party to offer social justice.

The Lib Dem leader described the economic challenges facing the country and said his party's tax cutting plans approved earlier in the week were the best way to help ordinary people deal with rising fuel, food and mortgage bills.

"These are difficult times. Our economy weakens by the day. We survive on oil and coal we cannot afford, from nations we cannot trust," he said.

"A firestorm is raging through our financial system, ignited by reckless bankers and fuelled by complacent politicians.

"I had a look back recently at Gordon Brown’s final Budget last year. Can you believe it?

"He actually boasted: 'Our growth will be the highest in the G7. Inflation has never gone above three per cent' he bragged.

"Labour offers nothing. They're so desperate to protect their own jobs, they can't be bothered to protect other people's."
 
He went on to attack the Tories and said: "Cameron's only aim was to make the Conservatives inoffensive.

"Problem is, once you strip out the offensive parts of the Conservative party, there isn't much left.

"Cameron's hope is to become the Andrex puppy of British politics. A cuddly symbol perhaps, but fundamentally irrelevant to the product he's promoting."

Clegg then went on to set out how his party would stabilise the economy and build for the future if elected.

"We would take action to stop unjust repossessions before tens of thousands of families find themselves on the streets. Guided by the one man who had the foresight to see these problems coming. With more wisdom and experience than Labour and Conservatives combined: Vince Cable."

He went on: "The free-wheeling, bonus-driven, short-termism of the City must come to an end. We must stop the amoral culture that sees speculators betting on banks to fail, knowing the taxpayer will pay out in the end and the madness of bonuses awarded no matter what.

"We need a wholly new approach to regulation: limiting, not encouraging, the excesses of the market. And when reckless bankers come with gold-plated begging bowls to ask for shareholders to be bailed out. Our answer should be a resounding 'no'.

"Thirdly we will put in place the building blocks for future economic stability. Interest rates that take house price changes into account and independent monitoring of our fiscal rules.

"And finally – but most importantly. Tax cuts for families who are struggling.

"To help them make ends meet and keep the wheels of the economy turning.

"The money must go direct to people on low and middle incomes. The very wealthy, the super-rich – should be paying more not less.

"I will never support the Tory idea that you cut taxes for millionaires and the benefits somehow trickle down. That's not what struggling families need. They need their money back."