Labour wants tax cuts now ??

That's nice. Thatcher also oversaw the largest increase in wealth distribution from the poorest to the richest in 50 years.

The problem with the economy right now is not that it's so hard to do business, but that there's a lack of demand, because wages have stagnated since the 1970s, and people have have had to take credit to keep up their standard of living.

Now they're paying off their debts and many are without jobs. There's no way the economy can get moving again when the majority of the public doesn't have any money to spend.

So it's not about 'tax cuts' per se. Simply cutting taxes isn't a panacea for growth or a healthy economy. If you imagine the economy like a circulatory system, it is not suffering from blood clots and poor circulation. If people at the lower end had more money to spend, demand would increase overall, and get 'the blood' flowing again.

'By cutting taxes on VAT and the lowest earners, you put more money in people's pockets to spend. When people spend, they stimulate the economy. This helps the economy grow and simultaneously increases tax receipts. It also reduces people on welfare and income support.'

That's exactly the sort of thing that Thatcher said. The Tories have won many elections with their promise to reduce taxation and stimulate growth.
Thatcher changed the left
www.telegraph.co.uk/news/newstopics/themargaretthatcheryears/1895878/Margaret-Thatcher-inspiration-to-New-Labour.html
Are Osborne and Cameron changing the current crop of progressives too?

BTW: where does he say the money will come fom? Is Labour recommending borrowing more to pay for any cuts? I assume they must be - or have they proposed additional new cuts to pay for the tax cuts (at least in the short term).

By cutting taxes on VAT and the lowest earners, you put more money in people's pockets to spend. When people spend, they stimulate the economy. This helps the economy grow and simultaneously increases tax receipts. It also reduces people on welfare and income support.

Hope this helps.

I can't help feeling that Balls has got wind of Treasury plans to announce some small tax-cuts in the next budget and by pre-announcing them as 'our idea' is trying to shoot the Coalition fox.

Why can't you help feel that?

That would be a pity, as it would mean that Labour s still just yapping objections.

I was hoping that this might actually be the start of a real, costed alternative agenda.

BTW: where does he say the money will come fom? Is Labour recommending borrowing more to pay for any cuts? I assume they must be - or have they proposed additional new cuts to pay for the tax cuts (at least in the short term).