Government debt including its Northern Rock liabilities is 43.8% of GDP and breaks fiscal rules, Conservative leader David Cameron has claimed.
Cameron also says the chancellor’s Budget shows there is a current account deficit in the UK of £72bn.
He adds that the Budget shows the rate of growth of business investment in the UK has slumped by two thirds.
Cameron says: “Darling’s central claim is that Britain is well prepared for a global economic slowdown. He is wrong. It could hardly be worse prepared. We now have the highest tax burden in our history.”