David Cameron today called for an election to help restore confidence to an economy hit by recession.

The Tory leader also admitted that he had made a mistake in not dropping earlier his pledge to match Labour’s spending plans.

Mr Cameron used his New Year interview with BBC1’s Andrew Marr Show to step up his call for a general election. But he must have wondered about the wisdom of allowing the cameras into his West London home.

Last week Gordon Brown was interviewed by the programme in Number 10. Showing due impartiality, the same offer was made by the BBC to Mr Cameron.

But the live broadcast was interrupted several times at crucial points when the screen froze, and producers were forced to cut quickly back to the studio. A Spanish broadcaster was being blamed for invading the airspace allotted to the BBC.

The Tory leader said a new administration would promote recovery because it could “wipe the slate clean” and acknowledge the mistakes of the past.

He said his paerty was prepared. “We have the money raised, or we’re in the process of raising it, we have the campaign ready,” he said.

“But the real reason I want it is, I think the key ingredient missing in the economy is confidence - that confidence people have to go out and invest in a business or buy a new home or return to the economy.

“And I think a new government would help with confidence. Why? Because you can wipe the slate clean. You can take long-term decisions rather than short ones.

“You can admit to the mistakes that have been made in the past, you can reshape the regulatory systems that have failed."

It has emerged that a top City executive is to take charge of the Conservative Party’s general election fundraising efforts.

Stanley Fink, a former chief executive of hedge fund manager Man Group, is also donating £1 million to the party, with the promise of further cash when an election is called.

Mr Cameron said today the Tories were doing better now than for three decades but insisted he still did not take the electorate for granted.

Side-stepping speculation about an expected reshuffle of his shadow cabinet, he said: “I’ve got a very good team. I think they’ve delivered the best results for the Conservative Party in 30 years.”

He added that he always looked at “ways of improving” his team but refused to talk about them.

Asked about former Chancellor Kenneth Clarke, who has been tipped for a shadow cabinet job, Mr Cameron said: “As far as I’m concerned he’s back already.”

On David Davis, who quit as shadow home secretary last year to fight a by-election over 42-day pre-charge detention for terror suspects, the Tory leader said: “You will have to wait and see.”

He admitted making mistakes, suggesting that the Tories should have made an earlier break from Labour’s spending plans.

“I now see just how unaffordable Labour’s spending plans are. Perhaps we could have seen that earlier,” he said.

He warned voters not to expect an incoming Conservative administration to slash public spending and cut taxes, saying: “That’s not what they should be thinking.

“They should be thinking this would be a responsible government that would make government live within its means - that would relieve some of the debt burden being piled up on our children.”

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