Miliband defends Labours economic vision

Ed Miliband

Ed Miliband

Ed Miliband has defended the economic vision laid out by the Labour party during their time in office, and has argued that the plans they set in place will create 100,000 extra jobs.

Miliband used a media conference to call the current government to bring back Alistair Darlings bonus tax on banks, and use the resulting money to boost the economy.

Mr Miliband said, “The two tests for George Osborne are about the cost of living – because I think there is a cost of living crisis facing ordinary families in this country, partly caused by the government – and economic growth.

“The economy has gone into reverse in terms of growth.”

Labour believe the tax would generate an additional £2bn which could be used to boost the economy in this country.

They argues the funds should then be spent on building new homes, which would boost the construction industry, youth employment and would also help the regional growth fund.

They also called for the chancellor to reverse the VAT increase on fuel, which went from 17.5% to 20% in January.

The Oil barrel is currently near its record high, leaving many motorists paying £1.35 a litre for their petrol.

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