Aiming to show that Labour is ready to deal with the deficit, the shadow Chancellor Ed Balls has got pensioners paying top rate tax in his sights. He wants to take away a universal benefit, their winter fuel payments, though not apparently their free bus travel and TV licences.
ITV News political editor, Tom Bradby reports:
ITV News political editor, Tom Bradby says:
This is a significant sign that Labour knows it has a problem in this regard. Labour was in charge in the run up to the bust, when we were running a deficit at the very end of the greatest boom Britain has ever seen.
You might argue that perhaps we should not have been running a deficit at that point. The Tories, arguably, would have been doing exactly the same thing, because they promised to match Labour's spending totals. But it has left Labour with an historic problem with the electorate in terms of trust on this issue.