Labour manifesto promises ‘budget responsibility’
Ed Miliband’s party will cut the deficit in Britain’s public finances every year until they are back in the black – just five years after Labour lost office in the aftermath of the financial crash.
Launching his party’s election manifesto in Manchester today, Mr Miliband will say that Labour in government would be “the party of responsibility” while holding out hope in the form of a more equal country that “works for people”.
The first page of the manifesto will commit a new Labour government to a “budget responsibility lock”, guaranteeing that every policy is fully costed.
Other manifesto pledges will include
– reversal of the 50p tax cut and introduction of lower 10p starting rate – 50p tax rate on incomes over £150,000 – cut in ministerial pay until the books are balanced – ban on zero-hours contracts – taxing bank bonuses and introduction of two new high street banks – new levy on payday lenders – freeze on domestic gas and electricity bills until 2017