Gordon Brown’s general election strategy of contrasting Labour “investment” with Tory “cuts” came badly unstuck on Wednesday, as his claims on spending left him vulnerable to charges of dishonesty from the Conservatives.

Downing Street was forced onto the defensive, after Mr Brown baldly asserted at a heated prime minister’s questions that “capital expenditure will grow until the year of the Olympics” – a statement directly contradicted by the official Treasury projections in the Budget red book.