Tory: Don't blame me if pound falls
George Osborne is braced for more criticism as currency markets open for the first time since his controversial warning that sterling could "collapse".
The shadow chancellor is certain to face more pressure if - as most expect - the pound continues its dramatic descent against the dollar and euro.
But Mr Osborne has already insisted that he will not accept the blame if further falls materialise.
He mounted a robust defence after being accused of breaching convention and putting crucial G20 financial negotiations at risk by "talking down" the pound.
"My job as shadow chancellor is to tell the British people the truth about the British economy," Mr Osborne told the BBC's Andrew Marr show.
"The truth that it is the worst prepared economy in the world for recession. The truth that we have got the highest personal debt in the world. The truth that the pound has fallen by a record amount against other currencies.
"I am telling the public the truth and that is the job of elected politicians, particularly opposition politicians, in difficult times."
Mr Osborne went on: "We are warning the country that Gordon Brown is abandoning fiscal responsibility and when a government does that it stacks up debt for future generations and stacks up tax rises for future generations as well."
In an interview with The Times on Saturday, Mr Osborne highlighted a 30% fall in value of the pound over recent months against a basket of currencies, and said Government policies were creating the "danger of having a proper sterling collapse, a run on the pound".
But on Sunday Mr Osborne dismissed the idea that he would be partly to blame for further falls: "What the markets are doing (is) looking at the economic fundamentals. They are not looking at what politicians - be it myself or indeed any other politicians - are saying."
