Chris Leslie MP, Labour’s Shadow Chief Secretary to the Treasury, responding to advance extracts of a speech by David Cameron on the economy, said:

“David Cameron has revealed his true values by the choices he has made. He’s chosen to give the top one per cent of earners a £3 billion tax cut while everyone else is worse off.

"Working people have seen their wages fall in real terms by over £1,600 a year on average under David Cameron’s government. Tax and benefit changes since 2010 have also left families £891 a year worse off.

"Labour will act to tackle the cost-of-living crisis and earn our way to higher living standards. We will freeze energy bills until 2017, expand free childcare for working parents and cut business rates for small firms. We will also balance the books where this government has failed, but do so in a fairer way by reversing David Cameron’s unfair tax cut for millionaires.”