Rachel Reeves MP, Labour's Shadow Chief Secretary to the Treasury, commenting on Nick Clegg's speech on 'tax fairness', said:
“This is a laughable speech from an increasingly desperate Nick Clegg. The Liberal Democrats will be judged on what they do not what they say, and their record is the Tory record - one of economic failure.
“Nick Clegg campaigned against a VAT rise, but then delivered it after the election. He failed to deliver a mansion tax, but went along with a £3 billion tax cut for the richest. And his cuts to tax credits will dwarf any gain from the rise in personal allowance for millions of working families.
“As the IFS confirmed yesterday, the Government’s changes this April will see millions paying more while millionaires pay less. The longer Nick Clegg continues to support this government’s failing economic policies the bigger the price families on middle and low incomes will pay.”