Video report by Chris Ship.
Ed Miliband said Labour would reverse the coalition's cut in the top rate of tax from 50p to 45p "if there was an election tomorrow".
"Next April David Cameron will be writing a cheque to each and every millionaire in Britain for £40,000," he told the BBC's Andrew Marr show.
"If I was in government tomorrow one change I would make in relation to the better off - first change in a Labour budget - we wouldn't be cutting the top rate of income tax from 50 to 45p.
"If there was an election tomorrow that is what we would do."
The Labour leader said borrowing was going up under the coalition and the money was being used to "keep people idle".
He told the programme: "Yes, there would be cuts if we were in government but if you make the pace of those cuts slower, if you take less money out of the economy now it would be better for the economy, better for growth."
He added: "Two and a half years ago the jury was out, the jury can now return its verdict because it hasn't worked, what this Government has done.
"The borrowing in the first five months of this year is 20% higher than it was last year."
Mr Miliband added that a Labour government would repeal NHS reforms.
"We will repeal [the Coalition's] NHS bill. Why? Because it put the wrong principles back at the hart of the NHS," he said.
The Labour leader also hit back at a senior trade union leader today - saying he was "wrong" to oppose a public sector pay freeze and insisting Labour under his leadership would be "the party of the private sector" as much as the public.
The Labour leader sought to use the row with Len McCluskey - general secretary of Labour's biggest union donor Unite - to show that the movement is not "pulling our strings".