Cameron: Labour 10p tax policy 'not properly costed'

The Prime Minister has reacted to Ed Miliband's announcement saying it looks like a policy that has been cobbled together overnight.

"I expect we will see that it is not properly costed," he added.

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Miliband calls for 10p tax rate

The Labour leader Ed Miliband has said he would use the next Budget to bring back the 10p rate of income tax, paid for by a "mansion tax" on homes worth more than £2m. The 10p tax band was controversially scrapped by Gordon Brown.