Cameron and Balls go head to head on economy

Two leading figures in the Labour and Conservative parties will make major speeches on the economy later today.

David Cameron will unveil a £100 million boost to the Coalition's flagship Start Up Loan policy, after it awarded its 20000th loan to a buddy entrepreneur.

Meanwhile, Labour's Ed Balls will hit out at the real-terms drop in wages, which the shadow chancellor says have seen the biggest drop of any parliament since 1874-1880.

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Balls accuses Conservatives of cutting taxes for the rich

Ed Balls will criticise the Conservatives for cutting taxes "at the top" and doing nothing to help those on low incomes increase their wealth.

In a speech given in Bedford, Mr Balls will say:

We know the Tories' real economic plan - it's to cut taxes at the top and hope that wealth will just trickle down.

Having already cut taxes for millionaires in this Parliament, they're champing at the bit to do it again if they win the election - cutting the top rate of tax for people earning over £150,000 again from 45p to 40p. Another tax cut worth £3 billion for the richest 1% of our country.

– Ed Balls

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