Regeneration in the newspapers: 26 August 2009

News that the Tories are to step up their attacks on Labour for presiding over "broken Britain" and reports that the Prime Minister is preparing to shift towards a more open approach to the need for public spending cuts feature in our round-up of today's papers.

Cabinet members believe that Gordon Brown is preparing to shift towards a more open approach to the need for public spending cuts, the Financial Times reports. The newspaper says that ministers expect that the autumn pre-Budget report will set out measures to make inroads into the deficit.

Business secretary Lord Mandelson is willing to commit taxpayers’ money to the American car group General Motors in exchange for guaranteeing the long-term survival of Vauxhall, The Times reports. It says that the business secretary is prepared to pledge up to £500 million to whichever of the three interested parties offers the most viable commercial future for the carmaker in Britain.

The Guardian reports that the Conservative Party will tomorrow step up its attack on Labour for presiding over "broken Britain". Shadow work and pensions secretary Theresa May will say that the five million people have never worked under the current government, according to the newspaper.

The rot at the heart of the housing market may have been stemmed, says the Daily Mail’s Alex Brummer. He points to figures that show that mortgage approvals in Britain climbed to a 17-month high last month. But he warns that there is no reason to suggest the housing market is set for another boom.

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