PMQs live blog

Welcome to this week's Coffee House PMQs live blog.  As always, things will kick off at 1200.  It's expected that the party leader exchanges will centre on the economy - particularly in light of the CBI's prediction that unemployment will hit 2.9 million, and the Tories' announcement on public spending yesterday.  Don't bet against hearing the "Tory/Lib Dem cuts" mantra from Brown.

1200.  Here's Brown now.  First question from Philip Dunne; "Can the PM explain why the pound has lost a quarter of it's value against the dollar in just 4 months."  Brown just rehashes his line of the weekend: "I'd remind Conservative members not to talk down the pound."

1202: Gordon Marsden slightly stumbles over his prepared line: "Does the PM agree that what we need is an expansion, rather than a contraction, of investment..."

1203: Cameron begins by thanking Brown for announcing an independent inquiry in the Baby P case.  Follows it up with a question on lending.

1204: Brown reposnds by saying that the bailout was the right thing to do and "has been copied around the world".

1205: Cameron says that the bailout isn't loosening up credit for small businesses.  Brown: "We've done what we can, now the banks need to do what they can."  This is all quite muted so far.

1207: Cameron: "Will more taxpayers' money be pumped into the banking system?"

1208: Brown responds by claiming that we need a fiscal expansion, and that the Tories don't support this.

1208: Things are heating up now.  Cameron accuses Brown of not answering the question.  Follows up by reminding the House that borrowing now means tax rises later.

1209: Punchier stuff from Cameron, asking how the PM will pay for his "borrowing binge".

1210: Brown's in a punchy mood himself: "Oh yes ... oh yes ... oh yes ... let me tell him about the difference between monetary and fiscal policy."

1212: Cameron pulls out a quote from Derek Scott - Blair's former economics adviser - indicating that the crisis is of Labour's making.  The Labour benches laugh, as Scott's well known as one of Brown's detractors.

1214: Brown's taking shots at the Tories' public spending annoucnement, although he refrains from saying "Tory cuts".  "We're acting, they're faling to act" yada, yada, yada.

1216: Clegg now. Kicks off with a question about the bailout and lending.  What evidence is there that the bailout is trickling down to small businesses?

1218: Brown responds as he did with Cameron - "Governments around the world have followed our...".  Clegg comes back with "What a complacent response!".  How true.

1220: Gisela Stuart on council tenants in Birmingham.

1222: Brown - responding to a question from Alistair Burt - lists his reasons for why the UK can deal with the recession: 1) Room for interest rate cuts; 2)  High employment 3) Outside of the financial sector, company balance sheets are healthy; and 4) "We are taking the right measures...".  A few Brownies in there.

1226:  Questions on North Sea oil, educational maintenance allowances, and the minimum wage.

1228: Another pot-shot from Brown: "[Helping small businesses] will also cost money.  Any parties that resist fiscal activism at this time are making a very big mistake."

1230:  Brown twists the argument that, thanks to his policies, the UK isn't well-placed to weather the downturn: "Even American regulators agree that the problems started in America.  If the Tories don't understand the roots of the problems, how can they hope to solve them?"

1231: That's it.

VERDICT: A strangely muted affair - perhaps the party leaders had last week's disgraceful PMQs in the back of their minds.  All considered, though, I'd say Brown came out on top.  The questions on the bailout were comfortable ground for him.  And whilst his responses were disingenuous, they had a bite to them that Cameron's and Clegg's performances lacked.