Chuka Umunna: Labour tax plans and leadership elections
10 February 2014 Last updated at 12:22 GMT
Labour wanted "to have the lowest tax levels possible", said the shadow business secretary.
Chuka Umunna told Andrew Neil there would not be a 50p tax level "in an ideal world," as they looked at the party's economic policy.
They also debated the planned reforms for elections of future party leaders and the role of unions.
The proposals would see MPs who were also union members restricted to one vote, rather then the current three or four they may have now.