Labour bids to convince voters it’s got sums right at last

In a clear sign of the party’s ongoing concern about the way voters view its economic credentials, Shadow Chancellor Ed Balls will today announce he intends to show how Labour’s “sums add up” in the approach to the 2015 election by asking the Office for Budget Responsibility (OBR) to independently review the costings of every spending and tax commitment in its manifesto.

It comes after Treasury Minister Sajid Javid released an analysis by Treasury officials which he said showed Labour promises would require more than £1,000 extra borrowing per household in 2015.

Labour leader Ed Miliband described the claims as “nonsense”, and insisted the party would not increase day-to-day spending in its first year of government.

In his speech to the Labour Party conference in Brighton today, Mr Balls will say: “In tough times it’s even more important that all our policies and commitments are properly costed and funded. The British people rightly want to know that the sums add up.

“This is the first time a Shadow Chancellor has ever said [he] wants this kind of independent audit.”

It follows a torrid first day at conference for Labour, with the row over the publication of Gordon Brown’s former spin doctor Damian McBride’s memoirs continuing to cause ructions within the party. Mr Miliband made clear he has never been engaged in any “reprehensible” briefings against Labour colleagues, and revealed he had urged Mr Brown to sack Mr McBride.