Labour's pledge to cut the deficit

December 11, 2014 5:54 PM

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Labour's pledge to cut the deficit

Ed Miliband has unilaterally decided that the general election campaign has begun. And what matters about his speech this morning is that it unveils Labour's first pledge for the next parliament - which is to "cut the deficit every year while securing the future of the NHS", and not to initiate any policies that require "additional borrowing".

Many may of course see this as Labour's leader tattooing on the back of his hand, "I must not forget the deficit," following what was widely seen as his gaffe at Labour's conference of omitting to mention it at all in his big address to delegates.

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