Shadow Chancellor Alan Johnson today reiterated the Labour Party's commitment to reducing the deficit in four years. In a short speech which lacked detail, he argued for "targeted tax changes" to play a bigger role in deficit reduction and economic recovery.
In his first speech since being appointed to the Shadow Cabinet, Johnson lamented the Coalition for making unfair choices on a number of measures and taking a "reckless gamble", but did state that Labour would not oppose all the cuts implemented. Johnson consistently referred to growth throughout his speech, claiming that Coalition policy endangered recovery.
Overall, a speech which illuminated the direction Labour plan to head on the economy, in which he stated "speed does matter". In short, Labour's growth plan v's the Coalition's dangerous austerity plan.
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