Nick Clegg will today warn voters that they "cannot afford Labour" if the party gets re-elected in 2015.

The Liberal Democrat leader's attack comes as the Coalition tries to regain the political initiative over the cost of living.

The issue has dominated politics for weeks, since Labour leader Ed Miliband announced an energy price freeze in his party conference speech in September.

The Tory-Lib Dem Government immediately denounced the idea as a "con" and warned that energy companies would simply hike up prices before and after the freeze.

But both parties are understood to be concerned that message is failing to get through to voters.

Labour sources say internal polling suggests support for a price freeze scores "off the chart".

A key plank of Mr Clegg's argument will be that household budgets can only be healthy if the underlying economy is also working well. He will say: "Don't be fooled again. You cannot afford Labour."