Miliband admits years of cuts needed to deal with the nation's deficit

Ed Miliband’s in his recent speech pledged that reducing the deficit would be a priority if he wins the election. However independent experts warned his plans would mean ‘much more borrowing and debt’.

Interestingly, the Labour leader forgot to mention the deficit in this party conference speech earlier this year and not avoid explainin how Labour would reduce public spending. He claimed that Labour party would impose ‘year on year’ spending cuts to reduce the deficit, saying it was his ‘first pledge of the election campaign’. However Mr Miliband gave no date for bringing the public finances back into the black.

Ed Milibad suggested that his party was workin on plans for 'common sense spending reductions' and full detail would be released only after a Labour victory in the next May's General Election.

Independent experts warn that a lack of public spending cuts plan means that debt might not be reduced under Labour government.