Ed Miliband has outlined the Labour Party’s plans for government today, with a manifesto that promises a completely costed economic plan that will not require any additional borrowing.
The first page of the manifesto trumpets the “Budget Responsibility Lock”, in which Labour promises to cut the deficit in every year of the next parliament.
Other manifesto pledges include an £8 minimum wage and a commitment to freeze rail fares.
Miliband launched the Labour manifesto in Manchester this morning, asserting that he is “ready” to lead the country.
He said: “It is a manifesto which shows Labour is not only the party of change but the party of responsibility too.
“Everything in this manifesto is funded. The deficit will be cut every year. The books will be balanced and the national debt will be falling.”
The Conservative response to the manifesto focused on the timeframe for deficit reduction, which they claimed was unclear.
Chancellor George Osborne said: “We have a clear plan for the future and track record of success on the economy but Ed Miliband today failed to provide a credible economic plan for Britain.
“There were no new ideas for our country and if you read the small print, independent experts are already saying it means he will run a deficit forever.”
Tory concerns were echoed by Deputy Prime Minister Nick Clegg, who said that “the Labour Party have no plan and no date by which to clear the decks, wipe the slate clean and deal with the deficit”.