The G20 summit was "unequivocal" in backing the Government's strategy of cutting the country's deficit, David Cameron told MPs today.
The Prime Minister said leaders at the G8 and G20 summits agreed that the "speed and timing" of deficit reduction programmes would vary with national circumstances, but said Britain's measures offered a template to major economies.
"The verdict of the G20 was unequivocal. For countries with large deficits, the time to act is now," he told the Commons.
"Britain has one of the largest deficits in the G20 and the summit specifically welcomed plans set out in our Budget last week."
Acting Labour leader Harriet Harman poured scorn on his claim, saying nothing in the G20's statement provided "any justification" for his decision to cut the deficit "further and faster" than Labour planned.
She said it called for "growth-friendly consolidation" and asked: "How is it growth friendly' to cut investment allowances for manufacturing firms, to scrap the regional development agencies, to cut back on investment in hi-tech export-orientated British firms like Sheffield Forgemasters?"
Ms Harman said the summits' conclusions amounted to "no more than an agreement to disagree".
The final communique released at the end of the two-day summit in Toronto papered over cracks between the G20 states, accepting that different countries will pursue policies of continued fiscal stimulus or consolidation depending on their circumstances.
