Cameron and Clegg pledge action on high-speed rail and devolution

Appearing together at a rare joint Press conference at Downing Street, the Prime Minister and his deputy said there will be no early break-up of their partnership, promising to go “full steam ahead” with a programme of deficit reduction reform up to the next General Election.

With the coalition now at the mid-way point of its five-year term, the two leaders released a 46-page ‘mid-term review’ listing dozens of measures the Government has taken and further action promised in the years to come.

The document includes a pledge to proceed with radical proposals laid out by the Tory peer Lord Heseltine last year to boost growth by devolving billions of pounds of Government money to regions such as Yorkshire.

It also reiterates the coalition’s determination to extend the new high-speed rail line from London beyond Birmingham to Leeds, South Yorkshire and Manchester, with a route set to be unveiled within weeks.

Mr Clegg acknowledged that the Conservatives and Liberal Democrats have had differences over the past two-and-a-half years, but said that the “big purpose” of the coalition remained the building of “a stronger economy in a fairer society”.

“It is a source of immense pride to me that we... have put partisan differences aside to act in the national interest, and have acted fast and boldly to deal with the economic challenges that this country faces,” the Sheffield MP said.

However, Labour leader Ed Miliband dismissed the coalition review as “empty promises” with no real substance.