Ed Miliband will 'pick your pocket on a frequent basis'  because he won't cut benefit spending, David Cameron claimed today. The Prime Minister said he 'made no apology' for claims that Labour would increase taxes on working families by more than £3,000 over the next five years – despite the Tory estimate being criticised by economists and dismissed as 'made up' by Labour. But Mr Cameron refused to say how he would deliver £12billion in savings from the welfare budget which he has claimed are needed to avoid tax rises. David Cameron this morning accused Labour of planning to 'pick you pocket' if they are elected in May . On the first full day of campaigning, the PM said Labour was planning to hike taxes on businesses on families to reduce the deficit instead of making savings from government spending. It came as Labour risked a new clash with business by pledging to reverse the Government's cut in corporation tax just weeks after it is due to come into effect. Shadow chancellor Ed Balls said the move would enable them to throw a lifeline to smaller firms - cutting business rates on 1.5 million small firms - rather than the big companies which benefit from the reduction in corporation tax. But the Conservatives warned that it could lead to the loss of almost 100,000 jobs, putting economic security at risk, 'for the sake of making a political point'. Mr Cameron meanwhile promised that the Conservatives would help business create another two million jobs over the course of the next parliament if they are returned to Downing Street. The PM said the election was 'a choice about whether you want a government that will find savings and not pick your pocket or with Labour a government that will pick your pocket, I think, on a pretty frequent basis.' The Institute for Fiscal Studies yesterday challenged Mr Cameron's claim of a £3,000 tax hike under Labour, saying the party's plans did not suggest a rise of anything like that scale and that Conservative plans implied a larger overall package of spending cuts or tax rises. Ed Miliband has accused the Tories of using 'made up figures' Asked about the £3,000 figure, the Prime Minister told the BBC: 'I think it's a totally fair assumption. If Labour want to come forward now and change the assumptions and set out their own assumptions, then they can. 'But in the meantime, the best calculation available is the one that we have made.' Mr Cameron was repeatedly pressed over Tory plans to save £12 billion from the welfare budget, as part of an overall £30 billion cuts package. Asked whether he could rule out achieving some of the savings from cuts in disability benefits, he told the BBC that the coalition had just introduced a new Personal Independence Payment, adding: 'We haven't created that benefit in order to undermine it. We want to enhance it and safeguard it.' He added: 'Politics is about choices and my choice - and I think the British people's choice - is to find savings in welfare, rather than to put up people's taxes.' Meanwhile, Mr Balls announced that the first budget of a Labour government will cut business rates for 1.5 million small companies – worth an average of £400 – to be followed by a freeze the following year. Labour say that 17 small firms would benefit from the cut for every one large business helped by the reduction in corporation tax – first announced in Chancellor George Osborne's 2013 Budget – which takes effect next month. It argues the coalition spent £7 billion over the last parliament cutting the main rate of corporation tax to the benefit of larger firms while revenues from business rates rose by £3 billion, at an average cost to firms of £1,500-a-year. Mr Balls will say: 'Unleashing the potential of smaller businesses to grow, create more good jobs and raise living standards is a vital part of Labour's better plan. 'This is part of our plan to deliver a simpler and fairer tax system for small businesses. This is the right priority when money is tight. And it will mean that the tax burden on small businesses will be lower with Labour than under the Tories.' Nick Clegg this morning demanded the Tories come clean over how they will cut £12billion from the welfare budget . However the move risks re-opening the rift with some big business leaders who have strongly criticised Labour's spending plans. Tory Treasury minister David Gauke said that abandoning the cut in corporation tax would jeopardise economic security. He said: 'This would be the first time corporation tax has risen in over 40 years and Labour's plans could cost 96,400 jobs - it would put people's economic security at risk. 'The Conservative Party is helping businesses small and large as part of our long-term economic plan - we don't divide them up for the sake of making a political point.' Mr Cameron told Sky News's Sunrise that Labour's plan to raise corporation tax was 'a crazy thing to do when the economy is growing'. Asked for details of how the Tories' £12 billion benefit cuts would be delivered, Mr Cameron told ITV1's Good Morning Britain: 'Effectively what we are saying is that we need to save £1 out of every £100 that the Government spends in the next two years. We've done that in the last five years. We need to do it for two more. 'I think the right choice is to try to find that saving of £1 in every £100, rather than putting up people's taxes or adding to our borrowing. 'Where we've identified savings, we've been very clear about them. For instance, we've said that we'll cut the welfare cap - the amount of money that any family can get in welfare - from £26,000 to £23,000.' Mr Cameron said his party was setting out a 'very positive vision for Britain' with a pledge to help business create two million new jobs, adding: 'I can't think of anything more positive than that.'
Mr Cameron said he 'made no apology' for claims Labour would hike taxes . The Tories were criticised yesterday over claims taxes would rise £3,000 . But the PM refused to say how he would deliver the £12bn from welfare .