Miliband’s bid for economic credibility shot down by IFS

The Labour plan stops well short of the Tory promises to balance the budget
The Labour plan stops well short of the Tory promises to balance the budget
OLI SCARFF/AFP/GETTY IMAGES

Ed Miliband’s attempts to repair Labour’s economic credibility were challenged today when a leading economic think-tank called the promises in today’s manifesto so vague that voters would not know what they were voting for.

The Labour leader travelled to Manchester today to unveil his party’s 83 page proposal for power, promising to bring forward to October 2019 his pledge to raise the minimum wage to £8, freeze rail fares for a year in cash terms and protect tax credits from inflation for the lifetime of the next Parliament.

Labour also outlined new plans to create a national childcare service to help to guarantee wraparound childcare “for every working parent that wants it”, as well as look at whether some media companies had got too big.