Ed Miliband rebrands Labour as party of fiscal responsibility

Labour to launch manifesto and challenge claim it would not tackle deficit by unveiling 'budget responsibility lock' and guarantee policies are fully funded

Ed Miliband will move to change the terms of the general election campaign by portraying Labour as the party of fiscal responsibility when he guarantees that every policy will be fully funded and will involve no extra borrowing.

In one of the boldest moves by a Labour leader since Tony Blair amended clause IV in 1994, Miliband will use the launch of the party's manifesto to unveil a "budget responsibility lock" to guarantee the deficit will be cut in every year.

This is a manifesto which shows Labour is not only the party of change but the party of responsibility too

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