Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, commenting ahead of David Cameron’s speech and responding to figures from the Lib Dems, said:
 
“David Cameron and Nick Clegg should be judged on their record of raising tax on ordinary families while giving millionaires a huge tax cut. They have put a privileged few over hard working people.

“As the Institute for Fiscal Studies said last week, tax and benefit changes under this government have left households £1,127 a year worse off on average. Broken promises on VAT and tax credits have more than outweighed changes to the personal allowance.

"David Cameron is now desperately making £7 billion of unfunded tax promises. He needs to come clean about whether these would be paid for by another Tory VAT rise, even deeper spending cuts or both.

“Labour’s economic plan will ensure we earn our way to rising living standards for all and balance the books in a fair way. We will help 24 million working people with a lower 10p starting rate of tax and reverse this government’s £3 billion a year tax cut for the top one per cent of earners.”