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.
Ed Miliband has turned political cross-dressing into an art form and has now laid claim to the party's reputation for cutting taxes.
Labour have unveiled two big economic ideas today, neither of them is particularly new and neither of them is particularly effective.
Ed Miliband and his shadow chancellor Ed Balls couldn't have been clearer. Scrapping the 10p rate of tax was a very, very bad mistake.