"After nearly two years of opposing every saving the Coalition Government has made at least Ed Balls has finally admitted there is a deficit problem.
"However, he still refuses to take any responsibility for Labour's 13 years in power where they failed to balance the books and get to grips with reckless behaviour in the City, even when he was City Minister.
"Liberal Democrats in the Coalition Government are doing the right thing, taking the difficult decisions to protect Britain from the same fate as some euro zone countries while at the same time pursuing progressive policies such as reducing taxes for the lowest earners, making sure pensioners get a fair deal and providing a fair start for every child through the pupil premium.
"Ed Balls' admission is better late than never, but he and Labour still owe Britain an apology for 13 years of poor government and 18 months of lies in opposition."
"Britain should play an active role in Middle East diplomacy at this dangerous moment in the region's history. Iran's nuclear programme poses a real threat to regional stability and David Cameron's visit to Saudi Arabia is a welcome part of seeking to reduce that risk.
"It is important for the Coalition Government to promote British trade wherever this is appropriate as is part of our long-term plan to clear up Labour's economic mess.
"This visit also gives the Prime Minister the opportunity to highlight concerns about human rights within Saudi Arabia. Liberal Democrats are very worried about the Saudi kingdom's terrible record on human rights including those of women, religious minorities, foreign workers and political opponents of the regime.
"The Coalition Government did the right thing to champion Arab democracy throughout the Arab Spring and we must not send out mixed messages now."
Leading Government Ministers, Party Leaders and European Commissioners from Liberal Democratic parties across Europe met in London on Monday at the invitation of the Deputy Prime Minister Nick Clegg, who asserted the importance of European countries working together.
In a statement following the event, the participants reiterated their view that resolving the European economic crisis is the urgent priority. "This clearly requires greater fiscal coordination, discipline and solidarity. But our problems cannot be solved through austerity alone. Unless we can tackle another underlying cause of the crisis - Europe's lack of global competitiveness - this crisis will be the first of many.
"…the Single Market Programme of the 80s and 90s was a truly remarkable liberal achievement, tearing down trade barriers within Europe and unlocking unprecedented levels of new jobs, growth and prosperity. We need to build on the progress made to date, in particular through Mario Monti's 2010 report on the Single Market and the Commission's Single Market Act, to recapture this level of ambition.
"We therefore call on all European leaders and institutions to use the January 2012 European Council meeting to kick start and drive forward an urgent and ambitious plan for jobs and growth in Europe."
Nick Clegg was unequivocal: "We can only address these problems by pulling together. The one lesson we have learnt over and over again in Europe, to our cost, is that we are stronger when we are together and weaker when we are apart.
"It is immensely important to work as liberals, in all our different countries, in all our different ways, to promote unity over disunity and to promote co-operation rather than needless rivalry and isolation."
President of ELDR and co-host of the event, Sir Graham Watson said the meeting was both constructive and impressive: "Three prime ministers, five deputy prime ministers, numerous government ministers, four EU Commissioners - and ten hours of talks.
"We noted how the EU is currently dominated by a centre right government (the European People's Party) which is failing."
The businesses - employing over two million people in Britain with a turnover of more than £500 billion - have signed up to the Deputy Prime Minister's Business Compact on social mobility. This is an unprecedented partnership between business and government to spread opportunities across our society and, crucially, to create culture change in other companies.
"This is great news for the whole country, but especially for Sheffield and the great cities of the North.
"For too long governments have spent too much time concentrating on London and the South East. This is a big investment that will link North and South so that everybody can share in the prosperity of the future.
"It will take some years to build but this is the right thing to do. It is a long-term investment to help heal the North-South divide.
"Liberal Democrats have long supported High Speed Rail and I am proud that the Coalition is making it happen."
"While Ed Miliband talks about delivering fairness in tough times, Liberal Democrats have been doing it.
"Labour hit the poorest workers by scrapping the 10p tax rate; Liberal Democrats have lifted a million of the poorest workers out of tax altogether and given 23m workers a £200 tax cut.
"Labour insulted pensioners with the 75p pensions rise; Liberal Democrats raised it by £4.50 this year and will raise it by £5.30 next year.
"Labour let the banks do as they please; Liberal Democrats hit them with a £2.5bn a year tax.
"But the most unfair thing Labour did was wreck the economy and Ed Miliband is still in denial about it. Liberal Democrats in the Coalition are determined to do the right thing by cleaning up Labour's mess and making Britain a fairer, greener and more liberal country."
"I'm very pleased the Prime Minister has come on board with Liberal Democrats plans to clamp down on executive pay. Liberal Democrats have been calling for action against this explosion in salaries and bonuses for years. Now we are delivering on it in Government.
"People who work hard, pay their taxes and play by the rules are rightly outraged that those at the top can pay themselves as much as they like, whether their company is doing well or not. It is unfair, unacceptable and has been allowed to continue under successive governments for too long.
"Vince Cable has already made clear that he would like to see more action on this, such as giving shareholders a binding vote on pay packets. We look forward to the Coalition doing the right thing and bringing forward concrete proposals to ensure an end to these unethical practices once and for all."
Backing for the plan to tackle youth unemployment comes from The Confederation of British Industry (CBI), British Chambers of Commerce (BCC), British Retail Consortium (BRC) and Federation of Small Businesses (FSB), who will also urge their members to back the initiative.
Liberal Democrats in the Coalition Government are determined to tackle the growing problem of youth unemployment, which Nick Clegg described as "an economic waste and a slow burn disaster". The aim of the Youth Contract is to ensure that all jobless young people are earning or learning again before long-term damage is done. Over three years, the Youth Contract will provide at least 410,000 new work places for 18 to 24-year-olds into work.
"It is a great relief that after so many years people have been brought to justice for the tragic death of Stephen Lawrence.
"Many lessons have been learnt and changes made as a result of this case, but there is much more to be done before all Londoners have trust and confidence in the police."
On the request of the police, Brian Paddick acted as an intermediary for Duwayne Brooks, Stephen Lawrence's best friend, during the trial. Duwayne and Brian have been friends for several years, having first met while Brian was Borough Commander of Lambeth. Duwayne is now a Liberal Democrat councillor in Lewisham.
Co-chair of the Liberal Democrat Parliamentary Party Committee on International Affairs, Martin Horwood, and Lord (Monroe) Palmer, are also pressing for changes to the way medals are awarded and how those awarded by other nations can be worn. They are calling for the Honours and Decorations Committee, which controls the awarding of medals, to meet in public and to be reconstituted under an independent chair, with a membership recognised by veterans as being truly independent.
