Election 2015: Labour manifesto pledge of no 'additional borrowing'

 

Labour says it will guarantee that each of its policies will be fully funded and require no additional borrowing, as it launches its manifesto on Monday.

Leader Ed Miliband will rule out a "shopping list of spending policies" and promise a Labour government would cut the deficit every year.
The Conservatives would go on a "reckless spending spree", he will say.
Tory Treasury Minister David Gauke said Mr Miliband had "no plan to clear the deficit" and would have to borrow more.
"Even Ed Miliband's own campaign chief admits Labour will borrow more to pay for their unfunded spending promises," he argued.


In other election news:

• The Liberal Democrats are launching a "five point plan", aimed at consumers and commuters, with proposals such as to end above-inflation rail fare rises and force energy firms to allow customers to change supplier within 24 hours
• Labour says its spending cuts will apply to Scotland but may be offset by other measures to raise more money
• One hundred small business owners, some of which used to support Labour, have written a letter to the Sun saying they intend to vote Tory
• Labour has opened up a three-point lead over the Conservatives, according to the latest YouGov poll which puts Ed Miliband's party on 36%

The first page of Labour's manifesto, Mr Miliband will say, "sets out a vow to protect our nation's finances; a clear commitment that every policy... is paid for without a single penny of extra borrowing".