Labour seeks to reinvent itself in public mind as party of fiscal caution

Party manifesto will promise to cut deficit every year and to seek approval for spending plans from Office for Budget Responsibility

Labour is to make an audacious vote grab with the launch of its manifesto on Monday in Manchester, painting itself as the party of fiscal responsibility in contrast to the Conservatives, party of reckless unfunded spending.

Labour says putting control of the deficit at the centre of its manifesto shows a party confident enough to address negative perceptions, whereas the Tory party has been unable to restrain its nasty side - exemplified by the personal attack on Ed Miliband by Michael Fallon, the defence secretary, an attack so unpleasant that it dislodged Sunday Times columnist Dominic Lawson from his previous support for the Conservatives.

Related: Ed Miliband rebrands Labour as party of fiscal responsibility