Ed Balls at Conference

The Labour Party Conference kicked off yesterday, with Shadow Chancellor Ed balls today set to underscore his willingness to take tough fiscal decisions, saying he will cap child benefit increases at 1 per cent for the first two years of the next parliament, and force Government ministers to take a symbolic 5 per cent pay cut.

Balls will also defend his decision to restore the 50p top rate of tax, saying that “unlike the Tories we will always ask those who have the most to make the biggest contribution. Now cannot be the right time to give the richest 1 per cent of people in the country a £3bn tax cut”.