Cost of living: is Labour becoming a one-trick pony?

Labour risks becoming a “one-trick pony” if it continues to base its electoral strategy on the cost of living issue, a senior party figure has warned.

With the general election a year away, Labour frontbencher Alan Milburn says the party needs to alter its message on the economy. “This is the endgame . . . therefore it is really important we are not seen as a one-trick pony on the cost of living,” he tells the Sunday Times.

“Everyone believes that Labour would tackle that better than the Tories but if they feel that is all we are offering and the economy is doing a little bit better then it won’t be enough,” he adds.

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The former Labour cabinet minister also believes that with the financial climate improving, Ed Miliband’s overall economic strategy must adjust accordingly.

“As the economy rebalances Labour needs to rebalance its policy,” he says. “Labour wins a majority in parliament when it rewards aspirations and doesn’t just recognise injustice, and when it focuses as much on creating wealth as distributing it.”

Meanwhile, a YouGov poll for the Sunday Times shows that while most people agree with Miliband’s stance on the cost of living issue, the Tories are closing the gap.

Asked which party would provide most jobs, 30% said Labour and 29% said Conservative. The single-point gap is a turnaround from Labour’s previous eight-point lead on the question.