Yvette Cooper, Shadow Home Secretary, said:
"Even Theresa May has now lost confidence in George Osborne's economic strategy and in David Cameron's leadership.
"For the Home Secretary to set out a five point plan for economic and industrial policy just ten days before the Budget is a serious rebuke to George Osborne and his failure to deliver any plan for growth.
"And this is also a blatant political pitch to the right of the Tory party who are so cross with David Cameron. This political manoeuvring whilst the Tories offer nothing to the millions struggling with a cost of living crisis.
"The speech is a mass of contradictions. Theresa May says she wants security yet her policies let terror suspect Ibrahim Magag escape in a black cab, and she has taken 35,000 rape suspects off the DNA database.
"She says she wants freedom yet she wants to abolish the Human Rights Act which protects freedom of speech, freedom from torture and freedom of religion. And she wants to pull out of the European Convention which is protecting basic freedoms in emerging democracies across Europe and has nothing to do with her failure in deporting fewer foreign criminals.
"And she says she wants public sector reform to be effective even though her police commissioner elections were an expensive failure and 15,000 fewer police mean 30,000 fewer crimes solved and fewer criminals brought to justice.
"Yet it is clear that she is more concerned about appealing to right wing Tory backbenchers and setting out an alternative to David Cameron and George Osborne than she is about a coherent policy for Government.
"In one speech Theresa May has set out a very different tack from her Prime Minister, her Chancellor and her Foreign Secretary. She says in her opening paragraph, "Today's event is all about a choice of leadership," - and its clear that today is another attempt to set out her stall."