WELSH Labour launched their manifesto today promising a further £375 million extra annual funding for Wales.

Party leader Carwyn Jones and shadow Welsh Secretary Owen Smith pledged to work closely with the UK Government to cut the deficit every year and "balance the books" as soon as possible in the next Parliament.

The party plans to legislate to give more powers to Wales over policing, ports, elections and energy as well as raising the minimum wage to £8 an hour, banning zero-hour contracts and giving 16 to 17 year olds the vote.

Mr Jones said: “This manifesto is a fair plan for Wales - a plan to rebalance our economy so that it works for ordinary people, not just a privileged few at the top.

“A plan to rebalance power so that more decisions affecting Wales can be made here, near the people and communities they affect.

“With two Labour governments working together, we can put behind us the negativity of the past five years and forge a new, positive union for our people.”

In healthcare, the party pledges to train an extra 1,000 doctors, nurses and other healthcare professionals, funded by a mansion tax on properties worth over £2 million, a levy on tobacco companies and cracking down on tax avoidance.

Shadow Welsh Secretary Owen Smith said: "At the heart of Labour's manifesto for Britain are economic policies that will be hugely beneficial to the people of Wales. Increasing the minimum wage, scrapping abusive zero-hours contracts, taking on the energy companies are just a few of the practical, fully costed plans that will make a difference to working people in Wales.

“With a pledge for fair funding an extra £375 million for Wales each year. With over a billion pounds in extra funding over the next Parliament it’s clear that only Labour will deliver for Wales.”

Tax pledges include reversing the 50p tax cut and not increasing the basic or higher rates of income tax, national insurance or VAT.

Welsh Labour also plan to freeze energy bills until 2017 and abolish the bedroom tax.

Powers to change the way Wales is policed will be devolved to the Welsh Government under a Labour Government, as well as continuing the Welsh Labour Government’s Jobs Growth Wales programme.

In policing, Welsh Labour pledge to abolish the role of Police and Crime Commissioner and appoint 500 extra Community Support Officers.

They also say all police officers will be required to become ‘chartered officers’, holding a registration with the College of Policing, and able to be struck off for serious misconduct, just as doctors and lawyers can.

In foreign policy, Welsh Labour plan to conduct a strategic defence review, return Britain to a leadership role in Europe, outlaw discrimination and abuse of members of the Armed Forces and push for global targets to tackle inequality and promote human rights.

The party’s five main pledges are a strong economic foundation, high living standards for working families, an NHS with the time to care, controls on immigration and a country where the next generation can do better than the last.