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Miliband dismisses Conservative spending claims

Ed Miliband has strongly denied Conservative claims that Labour has made £20.7 billion in "unfunded" spending commitments.

The Conservatives today published an 82-page document outlining what the party claims is a cost analysis of Labour's planned spending in the first year of office.

The parties have kicked into full election mode with Miliband launching a "street by street" election campaign, Nick Clegg distancing himself from the coalition and branding Tory deficit plans "a con" and David Cameron claiming his is the only party who can save the economy.

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Michael Gove hints at income tax cuts in 2019/20

Tory Chief Whip Michael Gove. Credit: Daniel Leal-Olivas/PA Wire

Conservative Chief Whip Michael Gove has indicated the Tories would use some of the cash made available once the deficit is eliminated to fund a £7 billion income tax cut promised by David Cameron

But his comments suggested the cuts would not be seen until the final year of the next Parliament, when the Office for Budget Responsibility predicts a £23 billion surplus in the public finances.

He told the BBC's Newsnight programme: "Within that, we can afford to have tax cuts ... If you've got £23 billion spare, left over, then you can take £7 billion out of that for tax cuts."

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