The Eurofighters are assembled at BAE Systems in Lancashire
Labour would continue to invest in the Eurofighter programme, North West Regional Minister Phil Woolas has said.
The Eurofighter Typhoon aircraft is partly built by UK-based BAE Systems in Warton, Lancashire, where the company employs nearly 8,000 workers.
The Eurofighter was developed by BAE with European firms EADS and Alenia.
The project was launched in 1988 by Britain, Germany, France and Spain, who had all originally agreed to order three separate batches of jets.
A Conservative party spokesman said: "We can't see details of the contract... but it would almost certainly be more expensive to cancel the programme than to continue with it."
Liberal Democrat Shadow Defence Secretary Nick Harvey said: "The Liberal Democrats back current production of Eurofighter.
"We have been honest that we do not think Britain needs tranche 3B.
"Labour need to come clean on their position on whether they think Britain can afford 3B in the current climate."
Speaking on BBC Radio Lancashire, Mr Woolas also said that Lancashire was the "frontline" in general elections, as it was home to a number of marginal seats.
He praised Lancashire voters for being "pragmatic" and said that he was sure they would take a "wider and deeper view" of Gordon Brown and the election.
He also said that Labour would return to Blackpool for future party conferences.