‘UK Labour won’t reverse spending cuts’

Britain’s Labour Party Leader Ed Miliband has said he would not make any promises on changes to the spending plans due to be unveiled by the Chancellor George Osborne next week.

Speaking at Labour’s National Policy Forum in Birmingham, Miliband said he would not be able to reverse the £11.5 billion of spending cuts to be set out by the Chancellor unless he can be “crystal clear” where the money would come from

“Our starting point for 2015-16 is that we won’t be able to reverse the cuts in day to day, current spending unless it is fully funded from savings elsewhere or extra revenue, not from more borrowing,” Miliband said.

He also added that the party needs to be “ruthless” about pursuing Labour’s public spending priorities if it wins next general election in 2015.

British Chancellor George Osborne is looking to find £11.5 billion in savings before making his Spending Review announcement on June 26.