P134 CEEFAX 134 Sat 9 Apr 00:45/04       POLITICS  LABOUR POLICY "TO BE COMMON SENSE" Labour chairman David Blunkjtt has warned the party against "excessive caution" in debating future policy. Labour has "exposed the deceit" the Tories pjrpjttated, hj began. But "the pendulum must not swing too far the other way", hj insisted "In avoiding Tory traps on spending commitments" Labour must not "fall into the trap of re-running the 1992 election in 1996," hj said. He urged a future based on "common sjnsj", not "extravagant promises".  Next News Main News Flash Finance