In a bid to move away from Labour’s recent anti-cuts stance, the Shadow Chancellor is expected to mention party policies that will affect 600,000 people over the age of 61 who pay higher and top income tax rates, according to a BBC report.

Cutting the winter fuel allowance to these wealthy older people is expected to pocket the Treasury around £100m.

Balls is also expected to promise tighter fiscal discipline and more ‘concrete policies’ to address issues like the budget deficit, cap on public spending and further cuts to benefits.

The winter fuel payment has come under vast criticism in recent years as the way it is paid means that regardless of whether the older person needs help paying their bills, they still get the allowance.

Critics have pointed out that wealthy older people who automatically receive the winter fuel allowance when they may not require it makes no sense when there are a growing number of families who are struggling to make energy bill payments.

This comes at a time when home energy prices have soared as much as 10% forcing some UK families to switch off hearing during the cold winter months.

Recent reports have also highlighted the growing number who are increasingly getting into arrears with their energy provider because they fail to make their fuel payments.