Stephanie Flanders, the BBC's economics editor, speaks the truth about Labour slurs - Peter Mandelson will not be happy

I fear for Stephanie Flanders, the BBC's economics editor, after this piece. Stephanie Flanders analyses Labour's claims of there being a Conservatives' 'credibility gap' or "Credibility Deficit" on tax and spending and finds the claims don't add up.

'Back in January, Labour said there was a £33.8bn hole in the Conservatives' plans. Now it's fallen to £22.2bn - suggesting a 34% rise in credibiliy. But, to coin a phrase, Labour's numbers really don't add up.'

Here are a few examples that Stephanie Flanders has found, do read the whole article for more:

'Back in January, Labour said Mr Osborne had promised to reverse the new 50p rate of income tax, at a cost £2.4bn. Now that's gone from the list entirely. It's not clear whether Labour thinks they "broke" that promise or not.

...

Once again, the tax cut for married couples is listed at £4.9bn, which would be the cost of the change proposed some time ago by Iain Duncan Smith.

But the Conservatives have now made clear they will be recognising marriage on the cheap. It won't cost nothing. But it could cost less than £1bn.

You can call that derisory. You can say it's an empty promise. But you cannot then also say they've committed to spend nearly £5bn on it.

...

once again, Labour can't have it both ways. You can't claim the cost-cutting will have a devastating effect on public services and the economy - but somehow, with all that, not raise any cash.'

The key part of Stephanie Flanders' article and the one that I am surprise to see on a BBC blog is this:

'The Conservatives have at least given us a number by which to measure whether those savings happen. That is more than Labour has done.

And a party that has yet to account for two thirds of the £35bn in efficiency savings promised between 2008 and the end of this financial year (April 2010) isn't really in a position to lecture the Conservatives on their lack of detail.'

These are very good and fair points and ones that other BBC journalists would do well to bear in mind the next time they allow Peter Mandelson airspace to make his accusations.