Ed Miliband aims to tax banks

New Labour leader Ed Miliband called for higher taxes on the banks he blamed for causing the economic crisis within hours of defeating brother David.

He was speaking in a televised interview with the BBC after attacking the coalition government for moving "too far and too fast" on deficit reduction.

Miliband junior said he would consider what more could be done on taxing banks and went on to call for a graduate tax to fund higher education, claiming it was right those earning more because they had a university education should contribute more towards its cost.

But he made it clear the addition to normal income tax should be for a limited period - not for life.

It followed speculation David is possibly in line to become shadow chancellor after incumbent Alistair Darling stood down. But he avoided indicating whether he will even stand for nomination to the shadow cabinet, for which names must be in on Wednesday.

Meanwhile shadow education secretary Ed Balls, defeated in the leadership contest, signaled he would like the shadow chancellor job and would be entering the shadow cabinet contest.

He called for a permanent 50% tax "on six figure salaries" and "discussions" on reducing the threshold.