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Increasing minimum wage is similar to lower energy prices, he added, in that it puts spending money in the workers' pockets.
This puts spending on cycling in perspective - the average spend per cycling medal was £2.2m, compared with £8.4m of spending for each Olympic swimming medal (overall spend £25m).
A key demand of Republicans is that the president puts spending cuts, particularly those to social insurance programs, on the table.
Labour's argument has great force because low cost public transport and any measure that puts spending cash in Londoners' pockets, especially its lowest paid, are desirable goals for the city as a whole.
"This puts spending decisions in focus, and you can see progress toward your goals," Noto said.
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Mitchell put spending cuts at 58% in real terms over the past six years.
If consumers are having trouble paying bills, but they can put spending on a credit card, they are typically able to forgo filing for bankruptcy.
By that measure, he said, his proposals would put spending on a track that would leave it at its lowest level in 50 years.
Mr Bush merrily changed his rationale for his tax cuts when the economy tanked from returning the "overcharge" back to the people to putting spending power back into people's pockets in order to boost growth.
He believes that Osborne's decision to veto the measures in February shows that the Tories want to put spending cuts ahead of tackling child poverty as he seeks to depict Labour as profligate.
Deciding to put spending parameters down on paper is the easy part.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com