This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/uk-12729091
The article has changed 5 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
Miliband and Balls to set out Labour economic vision | Miliband and Balls to set out Labour economic vision |
(about 3 hours later) | |
The Labour leader and shadow chancellor are to call for a fresh tax on bank bonuses and for a cut in VAT on petrol. | The Labour leader and shadow chancellor are to call for a fresh tax on bank bonuses and for a cut in VAT on petrol. |
Ed Miliband and Ed Balls will outline the measures they say will best grow the economy, ahead of the government's Budget a week on Wednesday. | Ed Miliband and Ed Balls will outline the measures they say will best grow the economy, ahead of the government's Budget a week on Wednesday. |
They will also call for more private sector jobs and for help for the young unemployed and construction industry. | They will also call for more private sector jobs and for help for the young unemployed and construction industry. |
The Conservatives claim Labour has made £12bn of unfunded spending commitments in the last four weeks. | The Conservatives claim Labour has made £12bn of unfunded spending commitments in the last four weeks. |
At a press conference later on Monday, the Labour pair will say last year's windfall tax on bankers' bonuses raised £3.5bn, and a repeat would help promote growth. | At a press conference later on Monday, the Labour pair will say last year's windfall tax on bankers' bonuses raised £3.5bn, and a repeat would help promote growth. |
They will also call for the VAT rise - from 17.5% to 20% - to be reversed on petrol as prices top £1.30 a litre, a measure they say can be funded by extra income from the bank levy. | They will also call for the VAT rise - from 17.5% to 20% - to be reversed on petrol as prices top £1.30 a litre, a measure they say can be funded by extra income from the bank levy. |
For all the rival claims and counter claims over the deficit there is also a broad symmetry between the opposition and the government ahead of next week's Budget. | |
Labour want the Budget to be judged by how far it promotes growth and eases the pressure on the so called "squeezed middle". | |
The coalition too would probably accept those benchmarks. | |
Hence, the prime minister and the chancellor have repeatedly dubbed this as "a Budget for growth", and Nick Clegg has identified the need to help what he calls "alarm clock Britain". | |
While on cuts, David Cameron has himself acknowledged the difference between Labour and the coalition over the scale of cuts is only £2bn this year. | |
The difference between the two parties over the economy is real - but it is essentially one of degree. | |
Mr Miliband will say: "We are under no illusions that at this stage the government will abandon their deficit reduction plan - they are too dug in for that. | Mr Miliband will say: "We are under no illusions that at this stage the government will abandon their deficit reduction plan - they are too dug in for that. |
"But at least they should take some steps to deal with faltering growth in our economy - to start to establish a plan to create jobs in the private sector... to deal with the crisis of youth unemployment in our country and build the skills we need for the future. | "But at least they should take some steps to deal with faltering growth in our economy - to start to establish a plan to create jobs in the private sector... to deal with the crisis of youth unemployment in our country and build the skills we need for the future. |
"The tests for next week's Budget are clear - growth and living standards. But the signs aren't good that they will be met. The government should think again." | "The tests for next week's Budget are clear - growth and living standards. But the signs aren't good that they will be met. The government should think again." |
Labour is also expected to call for help for the construction industry, which it says has lost 27,000 jobs in the past year. | Labour is also expected to call for help for the construction industry, which it says has lost 27,000 jobs in the past year. |
But the party's economic credibility will be questioned by the Conservatives. | But the party's economic credibility will be questioned by the Conservatives. |
BBC political correspondent Ross Hawkins says they will "pick apart" the opposition's policy announcements in an analysis endorsed by their coalition partners. | BBC political correspondent Ross Hawkins says they will "pick apart" the opposition's policy announcements in an analysis endorsed by their coalition partners. |
He says they will argue Labour has made £12bn of unfunded spending commitments in the last month - a charge shadow front benchers will reject. | He says they will argue Labour has made £12bn of unfunded spending commitments in the last month - a charge shadow front benchers will reject. |