World Economy

Budget Cuts

Budget CutsBudget Cuts

Labour Party head Ed Miliband has ruled out any uncosted spending commitments in Labour’s election manifesto, as he set out his party’s plans to reduce the deficit, BBC said. Dealing with the public finances will be an “essential test” of Labour’s credibility. He said, boosting wages and taxing the rich, in addition to budget cuts, could contribute to eliminating the deficit by 2020.