The former Mayor made the remarks as he unveiled his full manifesto and an online tool which calculates how much Labour claim his polices would save individual Londoners.
Promised policies include working to establish a London-wide non-profit lettings agency, an energy co-operative, a 7% fares cut and working with colleges to “reinstate” the Educational Maintenance Allowance.
Livingstone was joined for his launch by Labour leader Ed Miliband, running mate Val Shawcross and Labour MP Tessa Jowell
Demonstrating the online calculator, Mr Livingstone claimed: “In the central choice on the cost of living, Londoners will be better off with a Labour Mayor.”
Yesterday an opinion poll showed Livingstone has slipped behind main rival Boris Johnson who enjoys a 6 point lead and is currently favourite to return to City Hall.
Despite the poll lead Mr Miliband insisted his candidate would “fight to the finish” and said Londoners were more concerned how the Mayoralty could make a “positive difference” to their lives than with “commentary” around a single candidate.
Miliband added: “Ken’s key pledges to cut the bus tube and rail fares and tackle the soaring costs of energy and childcare will make a real difference to the lives of millions of people in London.”
A spokesman for Mr Johnson said: “Ken Livingstone says one thing but does another. He is making promises to Londoners which he knows he can’t keep.
“He has made £2.7bn worth of promises at a time when public finances are the tightest they have been for decades.
“There is only one way he can keep his promises – and that is by continuing his record of hiking up council tax and increasing or expanding the congestion charge zone at a time when Londoners are struggling to make ends meet.”
A spokesperson for Liberal Democrat candidate Brian Paddick said: “Putting a calculator on his website doesn’t mean Ken Livingstone’s policies actually add up. His headline fare cut has been rubbished by everyone who has looked at looked at it in any detail. His claims are about as dodgy as his tax affairs.”
Green party candidate Jenny Jones commented: “City Hall in the next term must balance several vital priorities: making sure Londoners can afford to travel and house themselves, making sure young people can find work, rebuilding trust between the police and communities and reducing the 4,000 annual premature deaths caused by air pollution.
“The Green manifesto, published tomorrow, will show all these challenges can be met through common sense policy and careful budgeting, and as Mayor I would ensure Londoners are better off financially whilst still securing the investment required for transport, the police and road safety.”
Candidates for Mayor include Jenny Jones (Green party), Ken Livingstone (Labour), Lawrence Webb (UKIP) Boris Johnson (Conservative) and Brian Paddick (Liberal Democrat). A full list of candidates can be found here.
Candidates standing as London Assembly constituency members can be found here. Candidates for the 11 Assembly London-wide seats can be found here.
