PMQs: Cameron and Miliband on living standards

Ed Miliband asked the prime minister several times whether living standards would be higher in 2015 than they were in 2010, claiming it was "ever such a simple question".

David Cameron said people would be better off than under Labour, as the pair they traded exchanges on tax cuts, tax credits, VAT and welfare.

Some MPs cheered as the Labour leader spoke of the prime minister auctioning a portrait of himself at a Conservative Party fundraising ball for £100,000 last week.

The prime minister hit back by teasing Mr Miliband with a line from his 'policy guru' Jon Cruddas about cuts taken from a Daily Politics film.