John Denham
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VAT cut and bank bonus tax call from Labour MP John Denham

Shadow Business Secretary John Denham called for a temporary cut in VAT to "get people spending" and a new tax on bankers' bonuses to fund investment in housing and jobs.

As he was challenged to explain what his party would have done to deal with UK finances, he said Labour would have made cuts to education and police services but at around half the rate as the coalition.

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