Norman Smith
Assistant political editor

On one sheet of paper given to us by Labour we have all the costs, on another all the plans to raise money.

But it seems to me there's a lot of controversy coming - a row over these documents - because there's a large chunk of money unaccounted for.

It comes down to the difference between current spending and capital spending - the latter they can borrow for.

Norman Smith
Assistant political editor

What's not in here is the cost of renationalisation - of water companies, railways, the Royal Mail, and so on. 

They're saying, 'Don't worry, we can borrow for that.'

• Extra tax take in total £48.6bn
• Income tax rate 45p on £80,000 and above; 50p to be reintroduced above £123,000 earnings
• £6.4bn to be raised from income tax from the top 5%
• Extra £19.4bn from higher corporation tax 
• £6.5bn from tax avoidance programme 

As we wait for Labour, just a few more of the key pledges from Plaid Cymru's manifesto, launched a short time ago:

• Keep the pensions triple-lock and oppose any increases in the pension age
• Demand the power of veto for the Welsh Assembly over any future free trade deals made by the UK
• Ask for control over tax rates such as corporation tax, air passenger duty and VAT
• Train and recruit an additional 1,000 doctors and 5,000 nurses for Wales in next decade
• Free, full-time nursery places for all 3-year olds
• Guarantee employment/training/education for anyone under-25 and looking for work
• Scrap Trident
• Maintain 0.7% GDP commitment for International Aid

Read the full manifesto here., external

The Labour manifesto launch - a big set piece event of the day - gets under way in 10 minutes or so. Our correspondent in Bradford has spotted the arrival of the top team...

BBC Wales correspondent Tomos Morgan says "defend" was the key word in Leanne Wood's manifesto launch speech - defending Wales as Brexit happens, defending funding for Wales going forward.

She argued that her party was the only one that could defend some of the poorest people in Wales from a Tory government.

Our correspondent says it's also interesting to see Welsh independence on the first page of the Plaid manifesto - that's much more prominent than in the recent past.

Plaid leader Leanne Wood says there is space in the Commons for "a big bloc of Plaid Cymru MPs" and urges voters to put them there.

"We've got the vision in this manifesto," she says, but more than that, it's "an action plan".

"As the UK leaves the European Union, it is only Plaid Cymru that will thrust Wales onto the political landscape," she goes on.

Then she lists a number of policy specifics, including:

• Targeted tax discounts for Welsh businesses
• Support for the Swansea tidal project
• Changes to procurement rules to allow more public contracts to be won by Welsh firms
• A Wales-specific living wage
• Guaranteed extra funding for the NHS after Brexit

"Who knows what a vote for Labour means?" Leanne Wood asks those gathered at her launch.

But whatever the answer to that, she says protecting Wales and getting the best for the Welsh people "is the entire reason our party exists".

"Plaid Cymru MPs don't follow Westminster rules... they vote for fairness and to help those in need, and they speak out against injustice, intolerance and the scapegoating of minorities."

Plaid Cymru has launched its general election manifesto, promising to "protect" Wales from a "tidal wave" of attacks from the Conservatives, saying Wales cannot hide behind Labour's "crumbling wall". 

Party leader Leanne Wood pledged to "overcome threats and seize opportunities" that may come from leaving the EU. She warned a divided Labour and an increased Tory mandate would see Westminster "do its worst" for the country. 

Policies include: 

• Ensuring Wales can continue to buy and sell to Europe without costly barriers
• Open a publicly owned bank 
• Guarantee all rights of Europeans living and working in Wales
• Demanding that every single penny Wales loses from Europe is replaced by Westminster. 
• A "multi-billion pound investment programme" to build new hospitals, schools, roads and railways, and a new health and social care rescue plan

The BBC News bus is in Ipswich...

A junior doctor at Ipswich Hospital says he thinks one vote winner would be if someone was to really make a commitment to looking at making efficiency-savings in the central administration departments of the NHS.

Dr Justin Ang added: "Everyone locally works very hard, everyone at the hospital works incredibly hard.

"We're talking about efficiency savings and maybe you could look centrally as well.

"Along with that, investment in the NHS and detailing where that investment's going to go."

And finally, what do the brains at the Institute for Fiscal Studies think of Labour's plan to raise corporation tax? 

“A rate of 26% would, just, leave the UK with the lowest headline corporation tax rate in the G7. But we would move down the competitiveness ranking relative to some other EU countries. A higher rate would also reduce the incentive for both domestic and multinational companies to invest in the UK, which might cause concern as we prepare to leave the European Union. It is also likely that the initial revenue raised would reduce over time as companies invest less and change behaviour in other ways.”  

A bit more from the IFS analysis of Labour's manifesto - you can read more here., external

On plans to scrap university tuition fees:

"They would increase government borrowing by nearly £13 billion in the short run and by around £8 billion a year in the longer-term. Those who go on to earn the most would benefit the most from this policy, as they are the ones most likely to have repaid their loans in full under the old system.”  

On plans to boost school funding:

“School spending was protected by the coalition government but is now due to fall in real terms per pupil for the first time in decades. Labour’s plans would, at substantial additional cost, not only reverse these planned cuts but provide substantial additional funding to schools.”