Mutton dressed as lamb according to Polly Toynbee

Polly Toynbee takes a critical look at David Cameron's pontifications yesterday and dismisses some of his points

Cameron's plan for retrenchment is economically illiterate, and would be frighteningly dangerous if he were in power. she concludes and in particular three facets of his policy come under intense scrutiny.

Firstly the loan guarantee scheme which

in his eagerness to cut borrowing, is to pretend he can do it cost-free by raising interest rates enough to cover any losses from failed loans. Nonsense, say those working on the scheme. To make it self-financing, he would have to raise the loan interest rates to many times their present rate, and no one would want them. Guaranteeing loans, some of which would fail, costs some £2bn -

and she adds

Cameron's proposed cuts in public services would be disastrous in a year like this.

For example

how could he cut Department for Work and Pensions funds as unemployment claimants soar? Why cut the big rise in apprenticeships, just as the young are leaving school to sign on? How do you create jobs if all infrastructure is cut back?

So back to the drawing board then Mr Cameron