Great power Britain?

David Cameron has delivered his defence of Britain's prominent role in the world, but was accused by the opposition of being a 'bystander' in world affairs.

The prime minister insisted that despite grievous cuts to the defence budget, Britain remains a first-rank military power and a hugely important diplomatic player.

At the G20 summit last week, Mr Cameron attempted to flex his influence in vocal calls for countries to avoid destabilising 'currency wars'.

But Labour dismissed his efforts as peripheral compared to the role Gordon Brown played in the same summit two years ago - at the height of the financial crisis.