Ed Balls on Labour 10p tax rate plan and mansion tax

Ed Balls said Labour wants a mansion tax to fund the return of the 10p tax rate that was abandoned by Gordon Brown.

When pushed by Andrew Neil, the shadow chancellor said it was a "very clear signal" but the party would not write its manifesto commitments two years ahead of the planned 2015 general election.

He said Labour would bring it in now if it was in power, or adopt it as a commitment if there was election within weeks.

He spoke after Ed Miliband said it was a "very bad mistake" to get rid of the lower tax and the move would send a "clear signal" his party was on the "side of working people".

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