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Ed Miliband admits VAT plans will require short-term rise in borrowing Ed Miliband admits VAT plans will require short-term rise in borrowing
(5 months later)
Ed Miliband has executed a hasty about-turn, saying his plans for growth will require extra borrowing in the short term, an outcome he refused to confirm in a widely criticised radio interview on Monday.Ed Miliband has executed a hasty about-turn, saying his plans for growth will require extra borrowing in the short term, an outcome he refused to confirm in a widely criticised radio interview on Monday.
Speaking on ITV's Daybreak on Tuesday, the Labour leader said: "That happens – you do some interviews well and some not so well.Speaking on ITV's Daybreak on Tuesday, the Labour leader said: "That happens – you do some interviews well and some not so well.
"I was asked a question about Labour's plans to cut VAT. I am clear about this – a temporary cut in VAT, as we are proposing, would lead to temporary rise in borrowing. The point I was making yesterday was to get growth going by cutting VAT, then over time you will see borrowing actually fall. That was the point I was making. It's good to make that point clear today.""I was asked a question about Labour's plans to cut VAT. I am clear about this – a temporary cut in VAT, as we are proposing, would lead to temporary rise in borrowing. The point I was making yesterday was to get growth going by cutting VAT, then over time you will see borrowing actually fall. That was the point I was making. It's good to make that point clear today."
Monday's interview on BBC Radio 4's The World at One received excoriating criticism, not just from the Daily Mail, but also from leftwing commentators such as the New Statesman and Labour list and Peter Kellner, the respected YouGov pollster.Monday's interview on BBC Radio 4's The World at One received excoriating criticism, not just from the Daily Mail, but also from leftwing commentators such as the New Statesman and Labour list and Peter Kellner, the respected YouGov pollster.
Kellner described his interview as shrill and immature.Kellner described his interview as shrill and immature.
Labour List, a largely sympathetic Labour blog, suggested Miliband needed to have the courage of his convictions, and Blairite MPs said if he was not prepared to embrace the political logic of his Keynesian position, he needed to abandon it.Labour List, a largely sympathetic Labour blog, suggested Miliband needed to have the courage of his convictions, and Blairite MPs said if he was not prepared to embrace the political logic of his Keynesian position, he needed to abandon it.
The row follows a similar interview on the Today programme earlier this year when the shadow chancellor, Ed Balls, also took many questions to admit his stance required a short-term borrowing rise.The row follows a similar interview on the Today programme earlier this year when the shadow chancellor, Ed Balls, also took many questions to admit his stance required a short-term borrowing rise.
Labour wants to attack the government for its extra borrowing due to the slower-than-expected recovery, but clearly fears any solution that involves extra borrowing will not resonate with voters.Labour wants to attack the government for its extra borrowing due to the slower-than-expected recovery, but clearly fears any solution that involves extra borrowing will not resonate with voters.
The ineffectual Miliband interview may have been a product of the fact that he has been concentrating on the reaction to his market-square stump speeches, and the contrast between the agendas raised by the people he meets on the stump and by the London-based media.The ineffectual Miliband interview may have been a product of the fact that he has been concentrating on the reaction to his market-square stump speeches, and the contrast between the agendas raised by the people he meets on the stump and by the London-based media.
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