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Clydesdale fined £20.7m over PPI

Written By Unknown on Selasa, 14 April 2015 | 16.50

clydesdale bank logo

The Clydesdale Bank has been fined £20.7m by the City regulator for "serious failings" in the way it handled complaints about Payment Protection Insurance (PPI).

The fine is the largest of its type imposed by the Financial Conduct Authority (FCA).

As many as 93,000 customers may be entitled to refunds or additional compensation, the FCA announced.

The Clydesdale apologised, and said it had now changed its procedures.


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UK inflation rate remains at zero

Shopper

The UK's inflation rate remained at a record low of 0% in March, according to the Office for National Statistics.

Cheaper clothing and footwear, offset by a rise in petrol prices, helped to maintain the rate at 0% for a second month, official figures show.

The figure was the lowest rate of Consumer Prices Index (CPI) inflation since estimates of the measure began in the late 1980s.

It means the cost of living is broadly the same as it was a year earlier.

However, the ONS said that if the rate of inflation was calculated to two decimal places, prices were 0.01% lower than a year before - a first fall on record for the CPI measure.

One of the main reasons the rate remained broadly unchanged was rising petrol and diesel prices between February and March, the ONS said.

The CPI figure leaves inflation well below the Bank of England's 2% target.

There had been speculation that the CPI rate - as measured to one decimal place - would fall below zero in March, and there remains a possibility that the rate could fall in the coming months.

However, few economists think the UK is at risk of the type of entrenched deflation that Japan has suffered from.

"Inflation should start to pick up in the second half of the year, especially as the downward pressure from lower oil prices eases," said Rain Newton-Smith, director of economics at the CBI business group.

She added that falling prices had benefitted households, and lower oil prices had been good for businesses in general. However, employees of North Sea oil firms had taken a hit from lower petrol prices.


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Supermarkets are 'fighting back'

supermarket
Supermarkets are mounting a fightback, according to the BRC

Supermarkets are mounting a "slow but steady fightback" as new figures indicated a sharp rise in retail sales last month.

Like-for-like sales rose by 3.2% compared with March 2014, according to the survey by the British Retail Consortium (BRC) and KPMG.

That was the strongest growth since January last year.

However, the period covers the five weeks to 4 April and was flattered by pre-Easter trading.

Total food sales recorded their strongest growth since July 2013 with a 1.8% rise as shoppers stocked up ahead of the Easter break.

However, on a like-for-like basis, food sales fell by 0.4% compared with March last year.

David McCorquodale, KPMG's head of retail, said there were signs of recovery in the grocery sector.

However, he added: "Price deflation continues to dog the sector, and while supermarkets may be selling more, they are pedalling hard to stand still. There is a long way to go before like-for-like food sales are back in positive territory."

The increase for March was the third consecutive month of higher retail sales, and followed a fall in December. Like-for-like sales were up 0.2% in both February and January.

The March numbers also showed that physical stores contributed more to growth than online sales for the first time since August - on a three-month average basis.

Furniture and household appliances provided the second-highest contribution to the rise in retailing, helped by the booming housing market.

Colder weather than in the same period in 2014 meant that clothing sales were subdued last month, particularly for womenswear, as buyers left spring and summer ranges on the racks.

BRC director-general Helen Dickinson said: "Retailers can also be satisfied with the consumer response to their Mother's Day and Easter offerings, but it is important to note that April figures will be impacted by the absence of Easter this year."

Howard Archer, chief economist at IHS Global Insight, said: "Given the importance of consumer spending to the economy, a solid BRC survey for March following on from the very healthy retail sales in February would be reassuring for hopes that GDP growth held up reasonably well in the first quarter."

According to the most recent Office for National Statistics figures, UK retail sales rose by 0.7% in February compared with the previous month.

Compared with February 2014, sales were 5.7% higher, the ONS said.


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US flight worker 'trapped in hold'

An Alaska Airlines plane declared an emergency and made a priority landing in Seattle after taking off with a worker trapped in the cargo hold.

The pilot of flight 448, bound for Los Angeles, was alerted by the sound of banging "from beneath the aircraft", an Alaska Airlines statement said.

Once back on the ground, the baggage handler emerged from the pressurised hold, saying he had fallen asleep.

He "appeared OK" but went to hospital as a precaution, the airline said.

Alaska Airlines later said the worker had passed a drugs test and been released from hospital.

The round-trip shown on Flight Radar 24

The Boeing 737 aircraft had taken off from Seattle with 170 passengers on board, and was airborne for 14 minutes.

According to Alaska Airlines, the worker's team leader had noticed that the man was missing before the plane took off.

The team leader had called into the cargo hold and rung the worker's mobile phone but did not get an answer.

"His co-workers believed he finished his shift and went home," the airline said.

The airline said the worker, employed by Menzies Aviation, started work at 05:00 local time and was due off at 14:30, but fell asleep in the cargo hold. The compartment was pressurised - so survivable at altitude - and was temperature-controlled.

One passenger, Marty Collins, told a local Seattle TV station that passengers had not heard the banging.

She said: "Nobody on the plane heard anything like that, nobody knew why we were turning around. They just said we were fine and we weren't in any danger."

Later, Ms Collins said passengers were told "there was someone in the cargo hold and he's been escorted off and taken away".

The flight later left for Los Angeles.


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PM pledges right-to-buy extension

David Cameron
Mr Cameron will say he wants to spread the "dream" of home ownership more widely

A Conservative government would extend the right-to-buy scheme for housing association tenants in England, David Cameron will say, as he unveils his party's general election manifesto.

The PM will say up to 1.3 million tenants could buy their homes at a discount as a result, insisting the Tories are the party of working people.

The Conservatives will also pledge a fund to help build 400,000 new homes.

Labour said the right-to-buy pledge would cost £4.5bn and was "unfunded".

The Conservative launch in Swindon comes the day after Ed Miliband put forward Labour's version - promising to improve the lives of Britain's workers and not to pay for any policies through additional borrowing.

The BBC's assistant political editor Norman Smith said the Tory manifesto may also include a pledge to take all those on the minimum wage out of income tax.

In other election news:

  • The Green Party launches its manifesto, pledging to "take back" the NHS from the private sector and build 500,000 social rented homes
  • The Liberal Democrats highlight their own housing policies, which involve the government commissioning the building of new homes, and a pledge of at least 10 new garden cities in England and 300,00 new homes a year.
  • Nick Clegg has told the BBC he will not work with the Conservatives after the election if they insist on £12bn of welfare cuts
  • The latest Ashcroft and Populus opinion polls put both the Conservatives and Labour on 33%
  • The UK's inflation rate remained at zero in March

A key pledge of the Conservative manifesto will be the extension of right to buy, a flagship policy of Margaret Thatcher's government in the 1980s, for tenants of housing associations - private, not-for-profit bodies that provide low-cost housing.

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Analysis by political correspondent Carole Walker

David Cameron is reaching into the Thatcher era, hoping an extension of a policy which proved popular back in the 1980s will give him the breakthrough he needs.

He will be hoping the announcement, along with cuts to inheritance tax, promises on NHS funding and a freeze on rail fares will give him momentum. The policy may have given Margaret Thatcher a boost 35 years ago but circumstances are very different today. Revivals are rarely as popular as the original hits.

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Under current rules, about 800,000 housing association tenants have a "right to acquire" their homes under smaller discounts, but the Conservatives would offer those people the same reductions as for those in local authority homes.

And they would extend the scheme to those who currently have no purchase rights at all, estimated to be about 500,000 people.

Key priorities

Conservative

Main pledges

  • Eliminating the deficit
  • Cutting taxes by raising basic and higher rate starting points
  • Helping people to own their own home and have financial independence in retirement
  • Providing an education system that helps children reach their potential
  • Holding a referendum on Britain's EU membership

The move would be funded by new rules forcing councils to sell properties ranked in the most expensive third of their type in the local area, once they become vacant.

The Conservatives say every house purchased will be replaced "on a one-for-one basis" with more affordable homes and no-one will be forced to leave their home.

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Houses
  • People living in council houses are entitled to purchase their homes at a discounted rate, which depends on the type of property and how long they have been a council tenant
  • The terms and discounts available vary in different parts of the United Kingdom
  • The maximum discount is £77,900 across England but £103,900 in London
  • It is being abolished in Scotland and also faces abolition in Wales
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The party said 15,000 homes would be sold and replaced every year as a result, and that the proceeds would also cover a fund to help councils bring derelict land back on brownfield sites to use.

Mr Cameron will say 400,000 new homes would be built over five years as a result and that "the dream of a property-owning democracy is alive".

Home Secretary Theresa May said the plan would be made possible by local authorities "managing their housing stock better" and selling their most expensive properties, some of which were occupied by a single family.

In his speech, Mr Cameron will say the Conservatives offer "security at every stage of your life" and warn of the risk of electing Labour.

"My message to Britain is this: we have come this far together. Let's not waste the past five years," he will say.

Ed Miliband's party has its own plans to encourage banks to fund 125,000 new homes for first-time buyers, as part of a plan to build 200,000 new homes every year by 2020.

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Analysis by economics editor Robert Peston

As the election looms, David Cameron - who in his early leadership days seemed to present himself as more the heir to Blair than Thatcher - wants a bit of Margaret Thatcher's election-winning magic dust.

So he has nicked and reworked her totemic policy of flogging council houses to their working-class tenants - some of whom redefined themselves as a new generation of aspirant Tories.

Read Robert's full blog

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Emma Reynolds, Labour's shadow housing minister, called the right-to-buy pledge "yet another uncosted, unfunded and unbelievable announcement from the Tories", saying it would cost £4.5bn a year.

Ruth Davison, from the National Housing Federation - which represents housing associations - said it was "the wrong solution" to the UK's housing shortage as it would benefit "some of the most securely housed people in the country on the lowest rents".

"You can no more force housing associations to sell their assets at less than they are worth than you could force Tesco to sell their assets or Cancer Research," she told BBC Radio 4's Today programme.

"Housing associations would have to be fully recompensed for any sale. There will be a cost to the taxpayer - at a conservative estimate £5.8bn".

Subscribe to the BBC Election 2015 newsletter to get a round-up of the day's campaign news sent to your inbox every weekday afternoon.


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Nigeria girls remembered one year on

Ceremonies are to be staged around the world to mark one year since more than 200 girls were abducted by Nigerian militant Islamist group Boko Haram.

A procession will be held in the capital, Abuja, with 219 girls taking part to represent each missing girl.

The abduction of the girls in Chibok in north-eastern Nigeria sparked global outrage, with nations such as the US and China promising to help find them.

There have been reported sightings of the girls, but none has been found.

Boko Haram say the girls have converted to Islam and been married off. One witness told the BBC that she saw more than 50 of them alive three weeks ago in the north-eastern town of Gwoza.

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Analysis: Will Ross, BBC Nigeria correspondent

It has been a whole year of agony for the relatives of the missing 219 Chibok girls. There have been a few sightings of some of the abducted students but very little official information from a government that has long promised to rescue them from the clutches of Boko Haram.

One mother told the BBC she sometimes arranges her 19-year-old daughter's clothes in the hope that she is about to return home.

The scale of this conflict is so grim that the Chibok girls represent just a fraction of those seized by the jihadists. Many have escaped partly thanks to a recent military offensive - but not the Chibok girls.

Turning the tide against Boko Haram?

Who are the militants?

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High-profile figures such as Nobel Peace Prize winner Malala Yousafzai and US First Lady Michelle Obama were among those who drew attention to their plight on Twitter last year under the #BringBackOurGirls hashtag.

Since then, campaigners have criticised the Nigerian government of outgoing President Goodluck Jonathan for not doing enough to find the girls and combat the six-year Boko Haram insurgency in the north, in which thousands of people have been killed.

Mr Jonathan suggested to the BBC's Newsday that political rivalries had hampered the federal government's ability to grasp the scale of the Chibok attack and respond to it, as the government of Borno state, a Boko Haram stronghold, was run by an opposition party.

"There is more politics involved than concern for the girls," he said.

Still from video
A video released by Boko Haram last year showed 136 girls, three of whom spoke to the camera

And Amnesty International say the militants have abducted 2,000 girls and women since the start of last year, becoming cooks, sex slaves and fighters.

Nigeria's incoming president, Muhammadu Buhari, has promised to "crush" the insurgents and said his government would "do everything in its power to bring them home".

However, he added: "As much as I wish to, I cannot promise that we can find them."


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Greens pledging to 'take back' NHS

Natalie Bennett and Caroline Lucas

The Green Party launched its General Election manifesto with a call for a "peaceful political revolution" to end austerity and tackle climate change.

It pledged to stop the "creeping privatisation of the NHS" and increase the minimum wage to £10 an hour.

Leader Natalie Bennett and Caroline Lucas, the party's only ever MP, unveiled a plan to help the two million children growing up in cold homes.

They want an insulation programme for the worst affected nine million homes.

Introducing the manifesto at the Arcola Theatre in Dalston, east London, Ms Bennett said it represented a "genuine alternative" to "business as usual politics".

She said she wanted to "take back" the NHS and the railways from the public sector.

Key priorities

Green

Main pledges

  • End austerity and restore the public sector, creating jobs that pay at least a living wage
  • End privatisation of the National Health Service
  • Work with other countries to ensure global temperatures do not rise by more than 2C
  • £85bn programme of home insulation, renewable electricity generation & flood defences
  • Provide 500,000 social homes for rent by 2020 and control rent levels
  • Return the railways to public hands

She also highlighted a new 60% rate of income tax and a 10% cut in public transport fares.

The Greens are fielding a record number of candidates - 571 - on 7 May and they claim a surge in membership numbers to 59,000 - more than UKIP and the Lib Dems.

Ms Lucas said a free nationwide insulation programme to tackle cold homes, specifically in areas blighted by fuel poverty, would help two million children.

She also called for extra £1.3 billion on the NHS budget to deal with the associated costs of cold homes.

"We believe if we invest in insulating people's homes, we can get their fuel bills down on a permanent basis," Ms Lucas told BBC Radio 4's Today programme

"It would also get our climate change emissions down and could create hundreds of thousands of jobs.

"And crucially, for every £1 invested in this programme, it's estimated that £1.27 comes back to the economy in terms of the benefit in jobs and reduction on the NHS bill."

Ms Lucas said the government had "a woeful record on energy insulation", with the installation of energy efficient measures in UK homes falling by 80% over the last two years.

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The Green Party says it has attracted thousands of new members over the past year. The challenge in this election will be to see that surge in support translate into parliamentary success.

Victory in Brighton Pavilion, where Caroline Lucas has been the party's sole MP, is vital to ensure the Greens' stint at Westminster isn't just seen as a blip.

The party will publish its manifesto calling for a "peaceful political revolution" to end austerity and tackle climate change.

But after promising a fully costed manifesto, the party should expect a deep analysis of its policies and significant scrutiny of the costs involved.

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The Green Party has called for a "progressive alliance" with the SNP if it has MPs at Westminster in the next Parliament.

But Ms Lucas said the Greens would not get involved in a "formal coalition" with any major party, claiming support on "a case by case basis is a much more effective way for a smaller party to make inroads".

"We've ruled out being a coalition government," she told Today. "When you look at the experience of the Liberal Democrats in their coalition with the Tories, it's not a model that's been a huge success for them - you end up losing your identity and possibly, your integrity as well.

"We're a party committed to redistribution, social justice and to crucially recognising that we live on a planet of finite resources, and unless we have that understanding at the heart of all our policies, then we're not going to be able to live in a safe way into the future."

Scrap road building

Recently, Ms Bennett said the party's policy of a Citizens' Income of £72 a week for every adult in Britain would feature in the manifesto, but that it would take longer than one parliament for it to be implemented.

The cut in public transport fares would be paid for by scrapping new road-building programmes, while the party is also expected to pledge free social care for the elderly.

At the weekend, Ms Bennett said the 60% top rate of tax would apply to people earning over £150,000 and that it would raise £2bn a year.

Ms Lucas said the Greens would not rule out banning the Grand National if there was sufficient evidence of an animal welfare issue.

At the manifesto launch in East London, Ms Bennett is expected to promise to reverse what she calls the "creeping privatisation" of the NHS.

She will say: "Austerity has failed and we need a peaceful political revolution to get rid of it.

"Our manifesto is an unashamedly bold plan to create a more equal, more democratic society while healing the planet from the effects of an unstable, unsustainable economy."

Subscribe to the BBC Election 2015 newsletter to get a round-up of the day's campaign news sent to your inbox every weekday afternoon.


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'Prosecute near-miss cyclists' call

Written By Unknown on Senin, 13 April 2015 | 16.50

The French state railway company SNCF has called for police action against cyclists in the Paris-Roubaix spring classic who crossed tracks with a safety barrier down, seconds before a high speed train arrived.

The incident happened at a crossing in northern France during Sunday's race.

The SNCF has issued a statement calling for "several riders" to be prosecuted for acting "against all safety rules".

Race organisers have said the seven riders could not stop in time.

"Millions of television viewers saw live this extremely serious and irresponsible action which could have been tragic," said SNCF.

"A few seconds later, a TGV ran on this line and could have hit the peloton."

A police motorcycle had stopped more riders in the 151-mile race from going through.

Paris-Roubaix

A policeman stopped some of the riders from crossing - they later rejoined the rest of the peloton

One rider from the Belgian Lotto team was clipped by a barrier which came down as the peloton was passing.

Race organisers said on Sunday they would not punish the riders.

"It wasn't possible for the leading riders to stop sufficiently safely," said Guy Dobbelaere, president of the jury of race commissioners.

"The peloton was 10 metres away when the barrier started to close."

Sir Bradley Wiggins finished 18th in what was his final race for Team Sky, 31 seconds behind German winner John Degenkolb.


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Patients to be asked about UK status

Care generic
There will be financial sanctions for trusts which do not bill patients who should be charged

Patients could be made to show their passports when they use hospital care in England under new rules introduced by the Department of Health.

Those accessing new treatment will be asked questions about their residence status in the UK.

Patients may need to submit passports and immigration documents when this is in doubt, the department said.

Hospitals will also be able to charge short-term visitors from outside Europe 150% of the cost of treatment.

The department said the new rules came into force on 6 April for overseas visitors and migrants who use NHS hospital care in England.

Primary care and A&E care will remain free.

There will also be financial sanctions for trusts which fail to identify and bill patients who should be charged, it said.

The plans are part of a crackdown on so-called "health tourism".

Andrew Bridgen, the Tory MP for North West Leicestershire in the last Parliament, told the Daily Mail: "This is not the International Health Service, it's the National Health Service.

"Non-UK nationals seeking medical attention should pay for their treatment.

"The NHS is funded by UK taxpayers for UK citizens and if any of us went to any of these countries we'd certainly be paying if we needed to be treated."

Most foreign migrants and overseas visitors can currently get free NHS care immediately or soon after arrival in the UK but they are expected to repay the cost of most procedures afterwards.

The charges are based on the standard tariff for a range of procedures, ranging from about £1,860 for cataract surgery to about £8,570 for a hip replacement.

Non-UK citizens who are lawfully entitled to reside in the UK and usually live in the country will be entitled to free NHS care as they are now.


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Labour pledges 'no extra borrowing'

Labour says it will guarantee that each of its policies will be fully funded and require no additional borrowing, as it launches its manifesto on Monday.

Leader Ed Miliband will rule out a "shopping list of spending policies" and promise a Labour government would cut the deficit every year.

The Conservatives would go on a "reckless spending spree", he will say.

Tory Treasury Minister David Gauke said Mr Miliband had "no plan to clear the deficit" and would have to borrow more.

In other election news:

  • The Liberal Democrats are launching a "five-point plan", aimed at consumers and commuters, with proposals such as to end above-inflation rail fare rises and force energy firms to allow customers to change supplier within 24 hours
  • Labour says its spending cuts will apply to Scotland but may be offset by other measures to raise more money
  • One hundred small business owners, some of which used to support Labour, have written a letter to the Sun saying they intend to vote Tory
  • Labour has opened up a three-point lead over the Conservatives, according to the latest YouGov poll which puts Ed Miliband's party on 36%

The first page of Labour's manifesto, Mr Miliband will say, "sets out a vow to protect our nation's finances; a clear commitment that every policy... is paid for without a single penny of extra borrowing".

Mr Miliband will add: "In recent days you have seen the Conservatives throwing spending promises around with no idea of where the money is coming from, promises which are unfunded, unfair and unbelievable."

With political parties under increasing pressure to explain how they will fund their pledges, the Institute for Fiscal Studies complained on Sunday that they were making "lots of promises" without producing much detail on how to deliver them.

But Labour is hoping to position itself as "the party of responsibility" for the public finances. It is aiming for a budget surplus in current spending "as soon as possible in the next parliament".

Policy guide: Economy

This issue includes the wider economy and deficit reduction but also employment and the role of business.

Its manifesto - being unveiled in Manchester - commits a Labour government to what it calls a "budget responsibility lock".

This would "guarantee" that every policy is paid for without additional borrowing and would, in future, require all the major parties to have their tax and spending plans audited by the independent Office for Budget Responsibility before a general election.

The manifesto sets out Labour's pre-announced policy pledges, including:

  • A £2.5bn fund for the NHS paid for largely by a mansion tax on properties valued at over £2m
  • Twenty-five hours of childcare for working parents of three and four-year olds, paid for by increasing the banking levy by £800m
  • Freezing gas and electricity bills until 2017, so they can only fall not rise
  • Banning zero-hour contracts and raising the minimum wage to £8
  • Scrapping winter fuel payments for the richest pensioners, capping child benefit rises and cutting ministers' pay by five per cent
  • A 50p tax rate on incomes over £150,000 a year and abolishing non-dom status

Shadow Chancellor Ed Balls told the BBC that people had had a "hard few years" and Labour had to show it could offer people a "better future" while also making "unequivocal" promises to cut the deficit every year.

"The Institute for Fiscal Studies has said we have been the most careful of the parties," he told BBC Breakfast. "We are not making any unfunded commitments. We are only spending money where we can identify where it will come from."

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Analysis by political editor Nick Robinson

Labour are already briefing that reassurance about the party's greatest perceived weakness - their seriousness about tackling the deficit - will feature on page one.

The prominence they're giving to their promise to be prudent is new. The detail which we have so far been told about is not.

So, today I'll be looking to see what eye-catching, vote-attracting, focus-group-tested pledges the party will add to its retail offer.

Much more importantly than the promises and the slogans, though, will be seeing whether Ed Miliband's manifesto paints a picture of the radical change he wants to produce in this country.

He and his allies have always seen himself as being in the mould of an Attlee or a Thatcher. If so, today's manifesto should tell us a lot more about what the next five years of a Miliband-led Britain could be like. Read Nick's blog in full.

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Labour, Mr Balls added, would "do what it takes" to support the NHS but would not make any promises which it could not meet.

He contrasted Labour's approach with the Conservatives, who he claimed were "treating the British people with contempt by saying they can Labour pledges 'no extra borrowing'magic the money up" for £8bn in extra funding for the NHS in England "without saying where it will come from".

Both the Conservatives and Liberal Democrats have pledged to eliminate the current deficit by 2017/18.

Ed Miliband arriving in Manchester ahead of his party's election manifesto launch
The Labour manifesto will include pledges on tax, energy prices, childcare and benefits

However, while Labour promises to reduce the deficit during every year of the coming parliament, the party offers no deadline, saying it would commit to achieving a budget surplus "as soon as possible" between 2015 and 2020.

And Treasury Minister Mr Gauke pointed to polls suggesting Labour could have to rely on a deal with the Scottish National Party - which is campaigning to end austerity - in order to form a government.

He said: "Everybody knows the SNP will call the tune and force even more borrowing, even more debt and even more taxes on a weak Ed Miliband government. Britain's hard-working taxpayers will pay the price for the economic chaos."

The Conservatives and Greens are due to launch their manifestos on Tuesday, followed later this week by the Lib Dems and UKIP.

Several manifesto pledges made in 2010, including a Conservative plan to raise the inheritance tax threshold and a Lib Dem commitment for a "mansion tax" on £2m properties, did not make it into the coalition programme the two parties agreed on after the two parties went into government together.

Subscribe to the BBC Election 2015 newsletter to get a round-up of the day's campaign news sent to your inbox every weekday afternoon.


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