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Ed Balls MP

Shadow Chancellor

Green Box: Ed BallsClick to open

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  • = Key Development Saturday 22nd November
  • 13:30 Ed Balls: Thornberry tweet ridiculous and out of touch On air

    On Air | Ed Balls MP | Shadow Chancellor | BBC News Video Ed Balls MP

    Ed Balls said Emily Thornberry's decision to tweet a photo of a white van outside a house festooned with England flags had made her resignation inevitable. “Emily Thornberry resigned because she made a big mistake, and I think not just E... Continue to article

  • = Key Development Wednesday 19th November
  • 17:31 Balls defends mansion tax, admits Labour by-election defeat PoliticsHome News

    Balls defends mansion tax, admits Labour by-election defeat PoliticsHome News

    Ed Balls defended the bedroom tax as something the “vast majority of people” will not have to pay. “The vast majority of people… in London, have a property worth nowhere near £2m,” he told LBC’s Call Ed Balls show. “If they are a taxp... Continue to article

  • 12:38 Annual Survey of Hours & Earnings 2014 - response from Ed Balls Press Release

    12:38| Press Release

    A press release from Labour: Out-of-touch Ministers claim the economy is fixed, but these figures show wages continuing to fall - Ed Balls Ed Balls MP, Labour's Shadow Chancellor, responding to the Annual Survey of Hours and Earnings, ... Continue to article

  • = Key Development Monday 17th November
  • 17:07 Ed Balls: The one thing people thought the Tories would do was get the deficit down, they have failed On air

    On Air | Ed Balls MP | Shadow Chancellor | BBC News Video Ed Balls MP

    Ed Balls echoed the Labour leader Ed Miliband when he said today that the Government were “getting their excuses in early” over the economic recovery. "What’s going on here is a government that in two weeks’ time is going to have to make... Continue to article

  • 09:38 Rachel Reeves: Cameron needs to stop making excuses and secure the recovery On air

    On Air | Rachel Reeves MP | Shadow Work and Pensions Secre... | Sky News Video Rachel Reeves MP

    Rachel Reeves accused David Cameron of “making excuses” for a potential slowdown in growth in the UK by warning about the impact of potential on the UK problems in the global economy. “What I would say to David Cameron is instead of maki... Continue to article

  • = Key Development Thursday 13th November
  • 23:01 Chuka Umunna: We will crack down on avoidance, the party is behind Ed On air

    On Air | Ed Miliband MP | Labour party leader | Newsnight, BBC 2 Video Ed Miliband MP

    Chuka Umunna strongly denied that there were people in the Labour party who doubted Ed Miliband’s performance as leader. “The parliamentary Labour party was absolutely clear this week it was absolutely behind the leader, no doubt about t... Continue to article

  • 23:01 Chuka Umunna: We will crack down on avoidance, the party is behind Ed On air

    On Air | Ed Miliband MP | Labour party leader | Newsnight, BBC 2 Video Ed Miliband MP

    Chuka Umunna strongly denied that there were people in the Labour party who doubted Ed Miliband’s performance as leader. “The parliamentary Labour party was absolutely clear this week it was absolutely behind the leader, no doubt about t... Continue to article

  • 22:26 Story (4 links): Balls: Labour vow tougher tax avoidance penalties

    PoliticsHome Balls: Labour vow tougher tax avoidance penalties Story View links

    Labour will bring in tougher penalties in attempt to tackle and deter tax avoidance. Under plans being set out tomorrow by Ed Balls, those caught committing tax avoidance could be forced to pay back double the amount they avoided. 

    The Shadow Chancellor wrote in a blog that business and politicians cannot afford to “bury heads in the sand” and that a “fair and robust tax system is vital” to bring down the deficit.

    He said that the amount of uncollected tax had risen last year to around £34bn, and that the “government has failed” in a number of areas.

    Mr Balls outlined proposals including global reforms for multinational organisations and stiffer penalties for the abuse of the General-Anti-Abuse Rule scheme.

    The GAAR scheme was introduced by the Coalition to prevent loopholes being used to avoid tax. At the present, tax avoiders pay back the tax they owed, but under Labour rules, they would pay up to the same amount again in a fine, in an attempt to deter the action.

    The public want us to be tough on the small minority of people who cheat the benefits system,” he said. “They want us to be just as tough on companies and individuals who evade or aggressively avoid the taxes they should rightly pay.”

  • 22:15 Conservative response to Labour tax announcement Press Release

    22:15| Press Release

    A press release from the Conservatives: Commenting on Labour's tax announcement a Conservative spokesman said: 'This is feeble stuff from a party with no economic plan - and a leader who just isn't up it. 'Ed Miliband was at the heart... Continue to article

  • 22:01 Labour to bring in tough new penalties to tackle and deter tax avoidance – Ed Balls Press Release

    22:01| Press Release

    A press release from Labour: Labour to bring in tough new penalties to tackle and deter tax avoidance – Ed Balls Labour will bring in tough new penalties that will act as a genuine deterrent against abusive tax avoidance, Shadow Chancel... Continue to article

  • 22:01 LabourList blog: Labour plans tough new penalties to crack down on tax avoiders News

    Blog | LabourList source icon

    Following Ed Miliband’s speech earlier today, Ed Balls has announced that Labour would introduce new penalties. Continue to article

  • = Key Development Monday 10th November
  • 15:51 Labour slams Osborne's 'con-trick' over European Union budget surcharge House of Commons

    Labour slams Osborne's 'con-trick' over European Union budget surcharge House of Commons

    George Osborne has engaged in a "con-trick" over the European Union budget surcharge, Ed Balls has said. The shadow chancellor highlighted the fact that a number of officials had said that Britain would keep its budget rebate before the ... Continue to article

  • 13:30 Ed Balls: The Tories haven't set out the cuts they will make after 2015 On air

    On Air | Ed Balls MP | Shadow Chancellor | World at One, BBC Radio 4 Video Ed Balls MP

    Ed Balls said the Conservatives had given no details of the welfare cuts they would make after 2015  "We’ve said we’ll be cutting public spending, we’ll match the Government’s spending cuts in 2015 and 2016 – we’ve said we’ll raise taxes... Continue to article

  • = Key Development Saturday 8th November
  • 08:43 George Osborne: It wasn't always clear that the UK's debate would apply to EU budget surcharge On air

    On Air | George Osborne MP | Chancellor of the Exchequer | Today, BBC Radio 4 Video George Osborne MP

    George Osborne said it was not clear whether Britain's rebate would have applied to the EU budget surcharge. "The difference is that first of all we have the British rebate applied in full, and that was not clear. That means that instead... Continue to article

  • = Key Development Thursday 6th November
  • 12:15 Ed Balls: Miliband leadership speculation all nonsense On air

    On Air | Ed Balls MP | Shadow Chancellor | Pooled clip, BBC News Video Ed Balls MP

    Ed Balls dismissed reports of discontent within Labour over Ed Miliband's leadership of the party. “I think this is all nonsense, to be honest. I’ve no idea about any of this. All I know is everybody in the Labour party from Ed Miliband ... Continue to article

  • 12:15 Ed Balls: Miliband leadership speculation all nonsense On air

    On Air | Ed Balls MP | Shadow Chancellor | Pooled clip, BBC News Video Ed Balls MP

    Ed Balls dismissed reports of discontent within Labour over Ed Miliband's leadership of the party. “I think this is all nonsense, to be honest. I’ve no idea about any of this. All I know is everybody in the Labour party from Ed Miliband ... Continue to article

  • = Key Development Tuesday 4th November
  • 13:07 Osborne defends handling of £1.7bn EU bill House of Commons

    Osborne defends handling of £1.7bn EU bill House of Commons

    George Osborne has defended the handling of a demand from the EU for £1.7bn in extra payments. The Chancellor told MPs during Treasury Questions that there was a two-day delay between his advisors preparing a report and the Prime Ministe... Continue to article

  • = Key Development Monday 27th October
  • 15:13 In Brief Events

    15:13 | Events | PoliticsHome Events

    Prime Minister David Cameron meets with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani Leader of the Opposition Ed Miliband, Education Secretary Nicky Morgan, Business Secretary Vince Cable, Leader of the House of Commons William Hagu... Continue to article

  • = Key Development Friday 24th October
  • 12:10 Ed Balls interview on BBC news - GDP & EU Budget Press Release

    12:10| Press Release

    A press release from Ed Balls: ED BALLS - GDP figures, EU surcharge BBC News Friday 24th October 2014 Speakers Ed Balls Julian Worricker JW: George Osborne has said show that these figures show that Britain is leading the pack in ... Continue to article

  • 11:31 Ed Balls: Government should have called EU talks last week when it found out On air

    On Air | Ed Balls MP | Shadow Chancellor | BBC News Video Ed Balls MP

    Ed Balls said the Government should have called a meeting of EU finance ministers to discuss the new surcharge on Britain's contribution to the EU budget last week, when it was notified. "It’s unacceptable and it’s unacceptable that it’s... Continue to article

  • 10:13 Labour: Ed Balls response to GDP figures Press Release

    10:13| Press Release

    Labour press release Ed Balls MP, Labour's Shadow Chancellor, responding to today's GDP figures, said: “For all George Osborne's claims that the economy is fixed most people are still not feeling the recovery. Working people are over ... Continue to article

  • = Key Development Wednesday 22nd October
  • 13:33 PMQs: Cameron and Miliband clash over NHS record House of Commons

    PMQs: Cameron and Miliband clash over NHS record House of Commons

    David Cameron has clashed with Ed Miliband over the Government's record on the NHS. In a session of Prime Minister's Questions dominated by the health service, the Labour leader seized on a recent letter signed by medical practitioners w... Continue to article

  • = Key Development Monday 20th October
  • 16:14 BBC: Mansion tax 'at least £250 a month' News

    News | BBC source icon

    Ed Balls says owners of properties worth between £2m and £3m will pay an extra £250 a month in "mansion tax" under a future Labour government - with higher rates for higher value homes. Continue to article

  • = Key Development Sunday 19th October
  • 11:45 Emma Reynolds: Labour housing plans about more than government spending On air

    On Air | Emma Reynolds MP | Shadow Housing minister | Sunday Politics, BBC One Video Emma Reynolds  MP

    Emma Reynolds said Labour would prioritise capital spending towards housing, but stressed that the party’s plans to boost house building went beyond increasing public funding. “Both Ed Miliband and Ed Balls have been clear that housing w... Continue to article

  • = Key Development Monday 13th October
  • 15:59 In Brief Events

    15:59 | Events | PoliticsHome Events

    Health Secretary Jeremy Hunt launches a programme to improve patient safety through continued learning Education Secretary Nicky Morgan speaks at the Channel 4 Youth Summit (2:00pm) Culture Secretary Sajid Javid continues his visit to... Continue to article

  • = Key Development Friday 10th October
  • 11:38 David Cameron: A vote for Ukip will deliver Labour government On air

    On Air | David Cameron MP | Prime Minister | Pooled Footage Video David Cameron MP

    David Cameron said last night’s by-election results vindicated his warning that voting Ukip would risk Labour winning the next election. “There were two by-elections last night – one where we lost a seat to Ukip and one where Labour held... Continue to article

  • = Key Development Sunday 5th October
  • 10:55 Ed Balls: Royal Family would have to pay mansion tax On air

    On Air | Ed Balls MP | Shadow Chancellor | Murnaghan, Sky News Video Ed Balls MP

    Ed Balls confirmed that the Royal Family would be subject to Labour's proposed mansion tax. “What we’ve said is that we’ll use the same rules as the Government has for the enveloped dwellings tax [the Annual Tax on Enveloped Dwellings], ... Continue to article

  • = Key Development Wednesday 1st October
  • 12:50 Transcript: David Cameron speech to 2014 Conservative Party Conference Transcripts

    David Cameron speech to 2014 Conservative Party Conference Transcripts

      I am so proud to stand here today as Prime Minister of four nations in one United Kingdom.   I was always clear about why we called that referendum.   Duck the fight – and our union could have been taken apart bit by bit. ... Continue to article

  • = Key Development Wednesday 24th September
  • 18:34 Comres/ITV News poll shows Miliband’s “forgotten” passages are Labour’s weakest issues Press Release

    18:34| Press Release

    COMRES / ITV NEWS POLL SHOWS MILIBAND’S “FORGOTTEN” PASSAGES ARE LABOUR’S WEAKEST ISSUES    Following today’s suggestions that Ed Miliband forgot key sections of his Labour Party Conference speech, newly published ComRes polling for I... Continue to article

  • 10:25 John Healey: Ed Balls had talked about the deficit the day before Ed Miliband made his speech On air

    On Air | John Healey MP | Former Shadow Health Secretary | BBC News Video John Healey MP

    John Healey said Ed Balls had talked about the deficit the day before Ed Miliband made his speech. "We’ll do it by making sure the rich pay more of their fair share. It didn’t need that sort of underlining yesterday, we had it in full fr... Continue to article

  • 06:28 John Cridland: Business concerned at lack of economic narrative from Miliband On air

    On Air | John Cridland | Director General, CBI | Today, BBC Radio 4 Video John Cridland

    John Cridland said business would be concerned at the absence of an economic narrative in Ed Miliband’s speech yesterday. “A year ago in Brighton, he made a very anti-business speech so it was great that we didn’t hear that this time... ... Continue to article

  • = Key Development Tuesday 23rd September
  • 19:46 Transcript: Ed Miliband speech: omitted paragraphs Transcripts

    Ed Miliband speech: omitted paragraphs Transcripts

    Ed Miliband's 2014 conference speech passages in retrieved 16.17 version which do not feature in final 17.22 transcript There won’t be money to spend after the next election. Britain will be spending £75 billion on the interest on our deb... Continue to article

  • 19:28 Transcript: Ed Miliband conference speech version as retrieved from Labour.org.uk at 16.17 GMT Transcripts

    Ed Miliband conference speech version as retrieved from Labour.org.uk at 16.17 GMT Transcripts

    It’s great to be at Labour Party Conference in Manchester. A fantastic city. A city with a great Labour council leading the way. It’s here four years ago here that I won the leadership of this great party. We meet at Conference in seriou... Continue to article

  • 09:33 Caroline Flint: Miliband will be announcing big proposals On air

    On Air | Caroline Flint MP | Shadow Energy and Climate Chan... | BBC News Video Caroline Flint MP

    Caroline Flint said Ed Miliband would be outlining major plans for reform in his conference speech today. “They’re big proposals because we need big changes in our country to make sure that we can support people through difficult times s... Continue to article

  • 08:06 Chuka Umunna: Miliband to set out Britain's national mission On air

    On Air | Chuka Umunna MP | Shadow Business Secretary | Sky News Video Chuka Umunna MP

    Chuka Umunna said Ed Miliband would set out a “national mission” in his speech to the Labour conference today. “Essentially, look, we’re a great country; we’ve got so much going for us, so much potential, but to realise that we need to b... Continue to article

  • 07:00 Quentin Letts: He was a worm turned, a splurger reformed News

    Opinion | The Daily Mail source icon

    We were told that ‘Austerity Ed’ Balls’s speech was the big one of the day. Alas! Continue to article

  • 07:00 James Kirkup: Labour makes a mess of its big moment News

    Opinion | The Daily Telegraph source icon

    Embarrassment and confusion reign at the start of the party's crucial conference Continue to article

  • 06:30 Harriet Harman: Ed Miliband has the leadership skills to be prime minister On air

    On Air | Harriet Harman MP | Deputy Leader of the Labour pa... | Good Morning Britain, ITV Video Harriet Harman MP

    Harriet Harman dismissed claims that Ed Miliband’s personal unpopularity could prevent Labour from winning the General Election.  “As far as his leadership is concerned I think what you have to do is look at his record since he has been ... Continue to article

  • = Key Development Monday 22nd September
  • 16:29 Dan Hodges blog: The size of the financial black hole is incomprehensible. So Labour has opted not to comprehend it News

    Blog | Telegraph politics blog source icon

    It was about half way through Ed Balls' conference speech that I realised: it’s pointless. Utterly, utterly pointless. Continue to article

  • 15:54 Mark Ferguson blog: Whatever happened to Jobs and Growth? News

    Blog | LabourList source icon

    I wasn’t going to write about the Ed Balls speech today. The pre-briefed announcements had left me underwhelmed, and one in particular – freezing child benefit – had left me furious. Continue to article

  • 14:37 Details lacking in Ed Balls speech says ICAEW Press Release

    14:37| Press Release

    A press release from the Institute of Chartered Accountants in England and Wales: Details lacking in Ed Balls speech says ICAEW Commenting on Ed Balls speech at the Labour Party Conference, ICAEW Chief Executive, Michael Izza, said: “... Continue to article

  • 14:26 Umunna: Child benefit change is painful for Labour PoliticsHome News

    Umunna: Child benefit change is painful for Labour PoliticsHome News

      Chuka Umunna has called Labour’s move to extend the Coalition’s child benefit cap “a very painful decision”. The Shadow Business Secretary was addressing a crowded fringe event at Labour conference, minutes after Ed Balls announced ... Continue to article

  • 14:04 Suzanne Moore blog: Labours child benefit stance maintains the momentum of Tory cruelty News

    Blog | Comment is Free source icon

    Ed Balls continued pursuit of Iain Duncan Smith's war on women is in the name of responsibility, but its an abandonment of the party's core values. Continue to article

  • 13:48 Sajid Javid: Labour's plans would increase, not decrease the deficit On air

    On Air | Sajid Javid MP | Secretary of State for Culture... | BBC News Video Sajid Javid MP

    Sajid Javid said the measures announced in Ed Balls’ speech today would increase the deficit. “Together, they will actually help to raise the deficit, not decrease it. Now, take the child benefit policy – I think what’s interesting first... Continue to article

  • 13:36 Len McCluskey: Labour child benefit policy not clever On air

    On Air | Len McCluskey | Unite general secretary | World at One, BBC Radio 4 Video Len McCluskey

    Len McCluskey criticised Labour’s announcement that it would cap rises in child benefit at 1% until 2017. “I don’t think that’s the cleverest tactic from Labour or from Ed Balls... “There is this problem in terms of the polls saying t... Continue to article

  • 13:27 CBI: Comments on Ed Balls' speech Press Release

    13:27| Press Release

      CBI press release CBI COMMENTS ON ED BALLS SPEECH TO LABOUR PARTY CONFERENCE The CBI today commented on the speech by the Shadow Chancellor, Ed Balls, to the Labour Party conference in Manchester. John Cridland, CBI Director-G... Continue to article

  • 06:48 Ed Balls: Labour prepared to take difficult decisions on public finances On air

    On Air | Ed Balls MP | Shadow Chancellor | Good Morning Britain, ITV Video Ed Balls MP

    Ed Balls said his plan to cap child benefit rises at 1% for the first two years of the next Parliament was evidence that Labour was ready to make the “difficult decisions” on public finances. “I’m desperate to do a better deal for workin... Continue to article

  • = Key Development Sunday 21st September
  • 23:34 Story (2 links): Ed Balls vows 2 year 1% child benefit cap

    PoliticsHome Ed Balls vows 2 year 1% child benefit cap Story View links

    Labour would cap child benefit and slash ministerial pay in a bid to cut the deficit, Ed Balls will declare tomorrow.

    The Shadow Chancellor will pledge to save £400m over the next Parliament by extending the 1% cap on child benefit until 2017.
    In his keynote speech to the Manchester conference he will also say a Labour government would cut total ministerial pay by 5% and freeze it until the UK's books are 'balanced'.

    He is expected to say: “If we win the election, on day one of the next Labour government the pay of every government Minister will immediately be cut by five percent. Ministerial pay will then be frozen each year until we have achieved our promise to balance the nation’s books.

    "We are all clear that everybody in the next Labour government will be fully focused on that vital task of getting the deficit down.”

    Mr Balls will also announce that the winter fuel allowance will be stopped for the richest five percent of pensioners and will reiterate his previous plans to reverse the scrapping of the 50p tax rate.

    Mr Balls will say: "So as we get the deficit down in the next parliament, the next Labour government will reverse this Tory tax cut for millionaires. Because Labour will balance the books in a fairer way.”

    His speech will also set out a number of other elements in Labour’s economic plan, including:

    · A Compulsory Jobs Guarantee for young people and the long-term unemployed – paid for by a tax on bank bonuses and restricting pensions tax relief for the highest earners on the top rate of tax

    · A plan to get at least 200,000 new homes built a year by 2020

    · Making work pay by expanding free childcare for working parents – paid for by increasing the bank levy

    · Radical plans to devolve economic power and resources to city and county regions of England

    · Establishing a proper British Investment Bank and ensuring proper competition in banking and energy markets to help families and business alike

    · A cut in business rates for 1.5 million business properties – paid for by not going ahead with next year’s further cut in corporation tax

    · An independent National Infrastructure Commission to end the dither and delay on the big decisions Britain needs to make for the future

    The Conservative MP Priti Patel, Exchequer Secretary to the Treasury, responded to the speech:

    "This speech isn’t a serious plan for the economy – Labour would put the deficit up, not down. These savings on ministerial pay only cut a miniscule fraction of the deficit - less than 1 per cent of 1 per cent. 

    "Ed Balls still refuses to admit that Labour spent too much and he’s opposed every decision we’ve taken to cut the deficit. All a Labour government would offer is more inefficient spending, more taxes and more debt."

     

  • 22:25 Conservative response to Ed Balls speech Press Release

    22:25| Press Release

    A press release from the Conservative Party: Conservative response to Ed Balls speech: Labour would put the deficit up, not down   * ·         Savings on ministerial pay only amount to 0.003 per cent of the deficit.   * ·   ... Continue to article

  • 22:00 Labour: Labour’s plan for Britain’s future will balance the books and change our economy so it works for all working people and not just a few – Ed Balls Press Release

    22:00| Press Release

    A press release from Labour: Labour’s plan for Britain’s future will balance the books and change our economy so it works for all working people and not just a few – Ed Balls In his speech to the Labour Party Conference tomorrow (Mon), ... Continue to article

Stories involving Ed Balls

Balls: Labour vow tougher tax avoidance penalties

Labour will bring in tougher penalties in attempt to tackle and deter tax avoidance. Under plans being set out tomorrow by Ed Balls, those caught committing tax avoidance could be forced to pay back double the amount they avoided. 

The Shadow Chancellor wrote in a blog that business and politicians cannot afford to “bury heads in the sand” and that a “fair and robust tax system is vital” to bring down the deficit.

He said that the amount of uncollected tax had risen last year to around £34bn, and that the “government has failed” in a number of areas.

Mr Balls outlined proposals including global reforms for multinational organisations and stiffer penalties for the abuse of the General-Anti-Abuse Rule scheme.

The GAAR scheme was introduced by the Coalition to prevent loopholes being used to avoid tax. At the present, tax avoiders pay back the tax they owed, but under Labour rules, they would pay up to the same amount again in a fine, in an attempt to deter the action.

The public want us to be tough on the small minority of people who cheat the benefits system,” he said. “They want us to be just as tough on companies and individuals who evade or aggressively avoid the taxes they should rightly pay.”


Ed Balls vows 2 year 1% child benefit cap

Labour would cap child benefit and slash ministerial pay in a bid to cut the deficit, Ed Balls will declare tomorrow.

The Shadow Chancellor will pledge to save £400m over the next Parliament by extending the 1% cap on child benefit until 2017.
In his keynote speech to the Manchester conference he will also say a Labour government would cut total ministerial pay by 5% and freeze it until the UK's books are 'balanced'.

He is expected to say: “If we win the election, on day one of the next Labour government the pay of every government Minister will immediately be cut by five percent. Ministerial pay will then be frozen each year until we have achieved our promise to balance the nation’s books.

"We are all clear that everybody in the next Labour government will be fully focused on that vital task of getting the deficit down.”

Mr Balls will also announce that the winter fuel allowance will be stopped for the richest five percent of pensioners and will reiterate his previous plans to reverse the scrapping of the 50p tax rate.

Mr Balls will say: "So as we get the deficit down in the next parliament, the next Labour government will reverse this Tory tax cut for millionaires. Because Labour will balance the books in a fairer way.”

His speech will also set out a number of other elements in Labour’s economic plan, including:

· A Compulsory Jobs Guarantee for young people and the long-term unemployed – paid for by a tax on bank bonuses and restricting pensions tax relief for the highest earners on the top rate of tax

· A plan to get at least 200,000 new homes built a year by 2020

· Making work pay by expanding free childcare for working parents – paid for by increasing the bank levy

· Radical plans to devolve economic power and resources to city and county regions of England

· Establishing a proper British Investment Bank and ensuring proper competition in banking and energy markets to help families and business alike

· A cut in business rates for 1.5 million business properties – paid for by not going ahead with next year’s further cut in corporation tax

· An independent National Infrastructure Commission to end the dither and delay on the big decisions Britain needs to make for the future

The Conservative MP Priti Patel, Exchequer Secretary to the Treasury, responded to the speech:

"This speech isn’t a serious plan for the economy – Labour would put the deficit up, not down. These savings on ministerial pay only cut a miniscule fraction of the deficit - less than 1 per cent of 1 per cent. 

"Ed Balls still refuses to admit that Labour spent too much and he’s opposed every decision we’ve taken to cut the deficit. All a Labour government would offer is more inefficient spending, more taxes and more debt."

 


Balls: Osborne has run out of excuses

Ed Balls has said George Osborne has "run out of excuses" as figures showed the UK had slipped into a double-dip recession.

Writing in the Daily Mirror, the Shadow Chancellor said yesterday was a "Black Wednesday" for families across the country, and that the current recession was "made in Downing Street by David Cameron and George Osborne".

He also said the Conservative Party had "arrogantly refused to listen" to warning about their deficit reduction plan and that families had a right to be angry.


Former chancellor Alistair Darling and Ed Balls have clashed over Labour's plans to deal with the deficit, the Guardian reports. Mr Darling will warn the party conference that they will lose credibility if they move away from his program of halving the deficit, while Mr Balls urges a slower pace of recovery.


Govt 'redoubles efforts' on growth

David Cameron has insisted the economy is “the biggest issue” for the Coalition and vowed to push for growth, but Ed Balls accused the Prime Minister of “doing nothing” for the economy.

After figures this week showed the UK is in a double-dip recession, Mr Cameron told the Andrew Marr Show: “This is the biggest issue for the Government... the biggest issue for the country, this is the thing that drives me.”

He added that ministers would "redouble all our efforts to make sure" that all the Government's programmes were delivering jobs and growth.

But Mr Balls accused the Prime Minister of empty rhetoric and said the Coalition’s policies had failed: “David Cameron today is saying the economy is the most important thing but he’s doing nothing about it. He’s nothing to say, his plan’s not working and he’s ploughing on regardless.”

The Shadow Chancellor earlier warned of a "lost decade" of slow economic growth and high unemployment if the Government does not change its plans for the economy. Speaking to the Observer, Mr Balls said: "I am not predicting years of recession, although we could well be in for a long 'lost decade'-style period of slow growth and high unemployment."


Balls: Osborne ‘in denial’

The Shadow Chancellor has accused George Osborne of being in “denial” about the “self-defeating extreme austerity” which he said is the reason why “Britain is stagnating while America is growing strongly”.

In a statement Ed Balls said: “Not only was last month’s botched Budget deeply unfair, it failed to come up with the plan for jobs and growth Britain desperately needs right now.”

Speaking ahead of this week’s growth figures for the first quarter of 2012 he predicted the country is likely to have grown by around 0.3% to 0.5% and he said such “sluggish growth” meant the UK economy has “barely grown at all over the last six months”.

“George Osborne’s economic mistakes mean this is now a slower recovery than even the 1930s depression. And unless he changes course I fear Britain could be set for a lost decade of slow growth – bumping along the bottom while other countries race ahead."