'We'd borrow more, but we'd use it better.' That was the message Ed Miliband found himself trying to get across when attacking David Cameron at PMQs today. He accused the Prime Minister of 'borrowing for failure', saying:
'He is borrowing for failure: that is the reality, and he is borrowing more for failure. That is the reality of his record. And here is the truth: they said they'd balance the books, they said they'd get growth, they haven't.'
So Labour would borrow for success. What would that mean? Miliband decided to tease us by not mentioning how he'd do better borrowing. The two leaders traded quotes from various IMF staff members, as it's easy to find something in anything the IMF issues to suit your own theories about the economy. Miliband did, overall, have the better lines, but Cameron supplied two good attacks, accusing Miliband of telling voters to 'give the car keys back to the people who crashed the car in the first place', and describing the party as 'doomed to repeat the mistakes of the past because they haven't learned the lessons'.
These exchanges were not the most gripping of all the PMQs scraps since 2010: today's star question came from Alex Cunningham, turning the horsemeat scandal into a question about Adam Afriyie's leadership bid. You can listen to that below: