By . James Chapman . Ed Miliband will today concede that Labour will not be able to reverse any of the Coalition’s spending cuts unless they are fully funded by budget reductions elsewhere. After three years of opposing almost every one of the Government’s attempts to bring down public spending, the Labour leader will risk disappointing core supporters by declaring that if  he wins the next election he will not borrow more to undo any of them. However, Labour is still committed to borrowing billions more in order to fund spending on infrastructure projects, such as roads and power stations, and a temporary VAT cut. Leader of the Labour Party Ed Miliband has confirmed that he would not reverse the current Government's austerity measures . Mr Miliband’s intervention comes ahead of Chancellor George Osborne’s latest spending review, due on Wednesday, in which he will announce budgets for Government departments for 2015/16. Yesterday Mr Osborne said that in 2015/16 the Treasury expects to take in £660 billion in taxes but on current plans expects to spend £745 billion. He added: ‘The difference, nearly £90 billion, is made up  of borrowing. ‘My job is to bring down that deficit so this country starts living within its means.’ Mr Osborne said the welfare bill for 2015 would be slashed by a further £3 billion, and insists another £11.5 billion of savings must be identified. Chancellor of the Exchequer, George Osborne said that in 2015/16 the Treasury expects to take in £660¿billion in taxes but on current plans expects to spend £745¿billion . Higher education, local government . and defence are among the areas facing further cuts as it becomes clear . that austerity measures will have to go on longer than planned even if, . as the Chancellor hopes, the economy is now recovering. Labour leader Mr Miliband, addressing . his party’s National Policy Forum today, will seek to toughen its image . on the economy after a series of polls showing it is still trailing the . Conservatives on the issue. Miliband added that everybody in the Labour Party, including Ed Balls, should be clear about where the money is coming from . ‘We won’t get to choose the circumstances of the next Labour government,’ he will say. ‘If we win the election, we will come to power in tougher economic circumstances than we have seen in generations, and that will have to shape the way that we govern. ‘Our starting point for 2015/16 will be that we cannot reverse any cut in day-to-day, current spending unless it is fully funded from cuts elsewhere or extra revenue – not from more borrowing. ‘So when George Osborne stands up next week and announces his cuts in day-to-day spending, we won’t be  able to promise to reverse them because we can only do so when we can be absolutely crystal clear about where the money is coming from. ‘It’s a hard reality. But I am clear . about it, [Shadow Chancellor] Ed Balls is clear about it, and everyone . in the Labour Party should be clear about  it too. ‘People will only put their hope in us if we show how we will make a difference. ‘But people will only put their trust in us if we show we are credible. Only if we have the discipline to face the challenge of our times can we change the direction of our country.’ Mr Miliband will also claim the nascent economic recovery is being enjoyed only by people at the top. He will say: ‘It certainly feels like a recovery for those at the top, but it still feels like a recession for everybody else: wages down, prices up, living standards falling for longer than they ever have in our history.’
Has opposed almost all of the Government's attempts to reduce spending .
But Labour leader Ed Miliband will not reverse them if he is elected .
Labour is still committed to borrowing .
billions more in order to fund spending on infrastructure projects .
By . James Chapman . Ed Miliband will today concede that Labour will not be able to reverse any of the Coalition’s spending cuts unless they are fully funded by budget reductions elsewhere. After three years of opposing almost every one of the Government’s attempts to bring down public spending, the Labour leader will risk disappointing core supporters by declaring that if  he wins the next election he will not borrow more to undo any of them. However, Labour is still committed to borrowing billions more in order to fund spending on infrastructure projects, such as roads and power stations, and a temporary VAT cut. Leader of the Labour Party Ed Miliband has confirmed that he would not reverse the current Government's austerity measures . Mr Miliband’s intervention comes ahead of Chancellor George Osborne’s latest spending review, due on Wednesday, in which he will announce budgets for Government departments for 2015/16. Yesterday Mr Osborne said that in 2015/16 the Treasury expects to take in £660 billion in taxes but on current plans expects to spend £745 billion. He added: ‘The difference, nearly £90 billion, is made up of borrowing. ‘My job is to bring down that deficit so this country starts living within its means.’ Mr Osborne said the welfare bill for 2015 would be slashed by a further £3 billion, and insists another £11.5 billion of savings must be identified. Chancellor of the Exchequer, George Osborne said that in 2015/16 the Treasury expects to take in £660¿billion in taxes but on current plans expects to spend £745¿billion . Higher education, local government . and defence are among the areas facing further cuts as it becomes clear . that austerity measures will have to go on longer than planned even if, . as the Chancellor hopes, the economy is now recovering. Labour leader Mr Miliband, addressing . his party’s National Policy Forum today, will seek to toughen its image . on the economy after a series of polls showing it is still trailing the . Conservatives on the issue. Miliband added that everybody in the Labour Party, including Ed Balls, should be clear about where the money is coming from . ‘We won’t get to choose the circumstances of the next Labour government,’ he will say. ‘If we win the election, we will come to power in tougher economic circumstances than we have seen in generations, and that will have to shape the way that we govern. ‘Our starting point for 2015/16 will be that we cannot reverse any cut in day-to-day, current spending unless it is fully funded from cuts elsewhere or extra revenue – not from more borrowing. ‘So when George Osborne stands up next week and announces his cuts in day-to-day spending, we won’t be able to promise to reverse them because we can only do so when we can be absolutely crystal clear about where the money is coming from. ‘It’s a hard reality. But I am clear . about it, [Shadow Chancellor] Ed Balls is clear about it, and everyone . in the Labour Party should be clear about  it too. ‘People will only put their hope in us if we show how we will make a difference. ‘But people will only put their trust in us if we show we are credible. Only if we have the discipline to face the challenge of our times can we change the direction of our country.’ Mr Miliband will also claim the nascent economic recovery is being enjoyed only by people at the top. He will say: ‘It certainly feels like a recovery for those at the top, but it still feels like a recession for everybody else: wages down, prices up, living standards falling for longer than they ever have in our history.’
By . James Chapman . Ed Miliband will today the Government’s attempts to bring down public spending, the Labour leader will risk if  he wins the next election he will not borrow more to undo any of them. However, Labour is still committed to borrowing billions more in order to fund spending on infrastructure