Ed Balls launches “Tory Millionaire’s Day” campaign – and outlines some of what Labour’s alternative budget would do

As we told you yesterday, Labour are launching a campaign against Osborne’s decision to implement a real terms cut to tax credits whilst on the same day cutting tax for millionaires. Launching the campaign – called “Tory Millionaire’s Day” in an email to Labour supporterss this afternoon, Ed Balls will outline the following as policies which Labour would implement if he were delivering the budget:

• cancel the tax cut for millionaires and the raid on tax credits for working families;
• bring back a lower 10p starting rate of tax to give 25 million people on middle and low incomes a tax cut, paid for by a mansion tax on houses over £2 million;
• and take action to kick-start this flatling economy by bringing forward infrastructure investment, building thousands of affordable homes and boosting lending to small businesses.  

The graphic for the campaign – which will appear on leaflets, direct mails and online ads – sticks to the repeated party line that Osborne and Cameron are “writing a cheque” to millionaires. Here it is: