Miliband Attacks 'Five Years Of Failure'

Written By Unknown on Sabtu, 17 Januari 2015 | 23.17

By Darren McCaffrey, Sky Political Reporter

Ed Miliband has launched an attack on the Conservatives' economic record, claiming there has been five years of denial, complacency and failure on living standards.

Responding to the Prime Minister's call on British businesses to pass on the success of recent months in higher wages, the Labour leader said people across the country will have been "choking on their cornflakes".

During a speech at the Fabian Society's annual conference Mr Miliband said: "You can't wipe out five years of failure on living standards with pre-election pleading.

"You can't magic-away people being £1,600 a year worse off by trying to take credit for falling oil prices."

David Cameron has called for companies to act after official figures showed the fall in oil prices in recent months led to a 16-year high in profitability.

Speaking in Washington DC, the Prime Minister said: "Obviously I want to see that companies' success is passed through in terms of people seeing wage increases.

"It has to be done in a way that is affordable, in a way that companies can continue to grow.

"We need to see productivity grow. I also support, as I said in the House of Commons, the companies and organisations that can afford to pay the living wage. It is good. It also helps reduce welfare bills."

But Mr Miliband claimed the Government had consistently "shown a tin ear" over the issue of family living standards.

"They have denied the cost of living crisis," he said. "They have been woefully out of touch with the daily struggles of families. They have rubbished the idea that people are worse off."

The Conservatives hope, with less than four months until the election, that falling inflation driven primarily by falling oil prices would help living standards.

A recent Institute of Policy Research study suggested the average worker was about £5,000 worse off last year compared to 2008.

Labour believe that if they can move the political narrative from macro-economic growth to whether people feel better off, they can regain voters' trust on who is best to run the economy.


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