After two and a half years in opposition, Ed Miliband, the leader of the opposition Labour party in Britain, finally rolled the first set of his economic policies. Mr Miliband who defeated his elder brother and former secretary of state, David Miliband, most peoples favourite, has struggled to inspire confidence with the general public.
Although the polls suggest that if there was an election today, he would become Prime Minister, the polls also suggest, a majority of people trust the conservative party with the economy. This could be due to the lack of an economic policy.
In his first conference speech as party leader, he was quick to distinguish himself from Tony Blair and Gordon Brown, claiming to be his own man. Then last year, he thrilled the conference with an impressive speech with no notes; there he launched the birth of One Nation Labour. The Tories called it vacuous. He also apologized for the previous Labour governments' handling of immigration, especially about the influx of people from eastern Europe.
On Valentines Day, 2013, in a speech at a plant in Bedford, England, he announced the introduction of the mansion tax for homes worth more than £2 million. The proceeds would be used to reintroduce the 10p tax rate. In April, when people earning more than £1 million will be getting a tax cut, he would launching the Labour budget. See video of the speech below.
Pundits would be interested to find out what this budget might entail because details are sketchy. This blog reckons that Mr Miliband needs to get a sound economic policy and tackle the issue of Scottish independence head on to be able to become PM at the next general elections in 2015. Even if he gets these right, critics might still ask themselves, Ed, who?