Nick Clegg: Coalition's infrastructure spending cut was a mistake

The Liberal Democrat leader tells The House magazine that he is "self-critical" - and that the Tory demand for an EU referendum isn't a deal-breaker in future referendum negotiations.

Labour will be quick to pounce on an admission by Nick Clegg that the coalition made a mistake in cutting capital spending. The Liberal Democrat leader told the House magazine:

If I'm going to be sort of self-critical, there was this reduction in capital spending when we came into the Coalition Government But I think we've all realised that you actually need, in order to foster a recovery, to try and mobilise as much public and private capital into infrastructure as possible.

He added that the Tory policy of offering an in-out referendum on EU membership would not be a "deal breaker" in future coalition negotiations:

Every party will have their positions on Europe at the 2015 general election, and like everybody else, if there's a Coalition, the parties will need to compare notes and work out what goes in the Coalition agreement.

In response, Labour treasury minister Rachel Reeves told ITV:

This is the first admission that this Government has made serious mistakes on the economy. But the real question is what Nick Clegg’s Government is going to do about it. We have urged Ministers to bring forward infrastructure investment and build thousands more homes, but they have refused to listen.

Nick Clegg. Photo: Getty

Helen Lewis is deputy editor of the New Statesman. She has presented BBC Radio 4’s Week in Westminster and is a regular panellist on BBC1’s Sunday Politics.

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Police shoot man in parliament

A man carrying what appeared to be a knife was shot by armed police after entering the parliamentary estate. 

From the window of the parliamentary Press Gallery, I have just seen police shoot a man who charged at officers while carrying what appeared to be a knife. A large crowd was seen fleeing from the man before he entered the parliamentary estate.

After several officers evaded him he was swiftly shot by armed police.

Ministers have been evacuated and journalists ordered to remain at their desks. 

More follows. Read Julia Rampen's news story here.

Armed police at the cordon outside Parliament on Wednesday afternoon. Photo: Getty

George Eaton is political editor of the New Statesman.