Milibands to go head-to-head over deficit

Leader of the Labour party Ed Miliband has offered his brother David the role of shadow chancellor, raising concerns that a rift will emerge over how to tackle the deficit.

Markets

Other markets

Market Data Notice

More market charts

by Michelle McGagh on Sep 27, 2010 at 07:35

Follow MMcGagh

Milibands to go head-to-head over deficit

Leader of the Labour party Ed Miliband has offered his brother David the role of shadow chancellor, raising concerns that a rift will emerge over how to tackle the deficit.

Ed Miliband (pictured), who beat his older brother to the top spot on Saturday by just over 1%, on Sunday said he would be more ‘cautious’ than former chancellor Alistair Darling when it came to reducing the country’s economic burden and that Darling’s plan was only a ‘starting point’.

However, David Miliband has taken a tougher approach to deficit reduction, saying that Labour should halve the deficit in four years, as set out by Darling.

One Labour frontbencher told the Financial Times that the conflict over the party’s economic plans was a cause for concern.

‘David has to work out if their relationship is personal or political,’ the source said.

The new Labour leader said he would increase taxes on banks and bankers’ bonuses.

Email a friend

Email me when someone comments on this article Print

4 comments so far. Why not have your say?

great news for the tories- these two spivs will do nothing to take on the unions or agree on how to tackle the mess their party has left. So with no opposition should be a clear run.Great news!

report this

fatcat,

To refer to the Millibands as spivs is perhaps a little too much.

As you say it is great news for the Tories.

That Edward beat his older brother David is the perfect storm, it could not have been better.

If David had won it would not have been so good, Edward, the kid brother, would have accepted the decision as being the way of the world.

By the time these two have spent a few years of slugging out for the heart and soul of the Labour Party, and totally decimating it along the way, it will be general Election time again.

So let's hear it for the Unions. You have done a grand job guys.

report this

http://www.usdebtclock.org/

Have a look at this.

data is from US Treasury/Fed etc.

On the RHS you will see the data for other countries which will be initially set to internal.

Click on external and see which country has the highest debt in the World relative to GDP

Can any party/government sort this mess out??!!

report this

Hotrod

Sep 27, 2010 at 12:34

I don't think the Tweedledee-Tweedledum partnership will appeal to the floating voter in the event of a 2015 election. Judging by the number of spoilt ballot papers which were lodged by the Unions, (because their members refused to declare that they were supporters of the Labour party), it would appear that the Milliband Bro's success is something of a hollow victory.

If the Con/Lib coalition continue to present a united front, the opposition will have to come up with some pretty radical, imaginative plans to make any difference to the outcome of voting in the 'Commons.

What happens out on the streets in the coming months may prove to be a more interesting story.

report this

Please sign in here or register here to comment. It is free to register and only takes a minute or two.