Ten Things You Need to Know Today: Sunday 19 Feb 2012

1. LABOUR BACKS TAX CUTS

Shadow Chancellor Ed Balls has proposed tax-cutting measures for next month's Budget. Writing in The Sunday Times, he concedes that a Labour Minister backing tax cuts is unusual, but says his proposals - including a VAT cut, and a 3p income tax cut - are needed to avoid "a permanent dent in our nation's prosperity".

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