Ed Miliband made an audacious bid to outflank David Cameron on the economy by calling for the 10p rate of income tax to be brought back. The Labour leader insisted reintroducing the band - controversially scrapped by Gordon Brown - would make society fairer.
In a keynote speech in Bedford, he said the move could be funded by a new "mansion tax" on homes worth more than £2 million.
The announcement was a surprise inclusion in the address, which had been billed as featuring no significant policy - a prospect mocked by the Prime Minister yesterday.
Speaking in Bedford - where Tory premier Harold Macmillan delivered his famous "You've never had it so good" line in 1957 - Mr Miliband said: "A One Nation Labour Budget next month would lay the foundations for a recovery made by the many, not just a few at the top."