Miliband: Tories Broke Tax Promises. We Won't

Ed Miliband accused David Cameron of producing last-minute gimmicks as the two parties clashed over family finances and tax pledges.

The Labour leader said the Conservatives' five-year tax lock promise was a "false promise" and that family budgets would be "in the firing line" if Mr Cameron returned to power on 8 May.

Both parties have promised not to increase VAT, national insurance or the higher rates of income tax if they are elected next week. Today Mr Cameron will promise to make a law that will stop the rises.

But with just over a week to go until the vote, Mr Miliband said families would suffer under the Conservatives.

Labour produced a "Tory secret plan" website, which it claims shows how the Conservatives will actually have to cut £58bn in public spending by 2019 and not the £13bn they claim to pay for all the giveaways the party has promised.

Mr Miliband said: "David Cameron will never put working families first in our country, instead he will put family budgets in the firing line."

He added: "Another five years of Tory government would mean a Tory secret plan that puts the prospects of working families at risk. Cuts to tax credits, cuts to child benefits, a threat to your family finances – 7.5m families losing an average of £760 a year.

"Working families cannot afford another five years of David Cameron and this Tory government."

:: Full Coverage Of General Election 2015

:: Party Manifestos At A Glance

Shadow Chancellor Ed Balls earlier told Sky News the 40p tax threshold would rise in line with inflation but that he would like to "do it faster than that if I could". This will prevent more people being dragged into the higher tax rate threshold in a process known as "fiscal drag".

The Conservatives have promised to increase the 40p threshold to £50,000.

In a speech in the West Midlands Mr Cameron guaranteed there would be no rise in the three taxes before May 2020.

He will say: "When it comes to your tax bill: do you trust the people who taxed you to the hilt when they were in power and still haven't come clean about the taxes they want to increase next time round?

"Or do you trust the Conservatives, who have cut income taxes for 26 million people, and who will cut your taxes again next time?

"We know it's your money, not Government money. You've worked for it, you've earned it, you should be able to keep it."

The Tories have said they will cut £12bn from welfare if they win the 7 May vote, but have only identified around £2bn of the savings.

A party spokesman did not rule out cuts in tax credits when responding to Mr Miliband's claims

With eight days to go until the election, a YouGov (LSE: YOU.L - news) poll for The Sun suggested there was still very little between the main parties, putting Labour up one on 35%, Tories down one on 34%, Ukip and the Liberal Democrats unchanged on 12% and 9% respectively, and the Green Party down one on 4%.