MANCHESTER, England, Sept 29 British Prime
Minister David Cameron said on Sunday that Labour party
proposals for a freeze on energy prices and the cancellation of
a planned cut in corporation tax would cost jobs and weaken the
Cameron, speaking on the first day of the Conservative party
conference in Manchester, said opposition Labour leader Ed
Miliband's proposals were 'nuts' though he added that the energy
market needed to be more competitive.
"Bashing and taxing business is going to cost us jobs and
set us back and make sure our recovery is weaker and that is
wrong," Cameron told the BBC.
British-listed utilities Centrica and SSE
lost 2.7 billion pounds ($4.34 billion) in market value in the
two days following Miliband's pledge on Tuesday to freeze energy
prices for 20 months if his party wins power in May 2015.
"I want low prices not just for 20 months, I want them for
20 years," Cameron said. "Do we want to make the market more
The energy companies have warned that the Labour plans could
sow economic ruin. Labour says consumers have been overcharged
and that the energy market does not work properly.
Labour also proposed scrapping the government's plans for a
cut in corporation tax to 20 percent from 21 percent.
"It is nuts frankly to put up corporation tax," Cameron
(Reporting by Guy Faulconbridge; editing by Kate Holton)