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Ed Balls MP

Shadow Chancellor

Green Box: Ed BallsClick to open

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  • 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

  • 22:00 LabourList blog: Labour will make the economy work for all working people – not just a few, announces Balls News

    Blog | LabourList source icon

    Tomorrow, Shadow Chancellor Ed Balls will address the Labour Party Conference to set out how a next Labour Government will deal with the economy. Continue to article

  • 17:46 Isabel Hardman blog: Coffee Shots: Ed Balls wounds journalist at bloody football match News

    Blog | Coffee House source icon

    Ed Balls playing football each year at Labour conference is almost as big as Ed Balls Day. The Shadow Chancellor always participates enthusiastically in the annual hacks vs MPs match. Continue to article

  • 15:36 Dot Commons: Ed footballsed journo in charity match Dot Commons

    PoliticsHome

    Ed Balls spilled blood, sweat, and tears on the football pitch this afternoon after he elbowed a journalist in the face during a charity football match. The Shadow Chancellor engaged in a ferocious tackle with Rob Merrick, from the North...

  • = Key Development Wednesday 27th August
  • 13:30 Ed Balls: Shaun Wright should resign but Labour have no powers to compel him to On air

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

    Commenting on the Rotherham abuse scandal, Ed Balls said there had been a failure in leadership and that people in positions of power should resign.  "It’s the view of the Labour Party announced in the last hour...that Mr Wright should s... Continue to article

  • 13:20 Labour: New export figures revealed Press Release

    13:20| Press Release

      Labour press release By Shabana Mahmood MP, Labour's Shadow Treasury Minister While David Cameron and George Osborne complacently claim the economy is now fixed, the truth is most people are worse off under the Tories. And the fi... Continue to article

  • 10:12 Dot Commons: Ice to meet Ed? Dot Commons

    PoliticsHome Ice to meet Ed?

    The Prime Minister has steered clear of the ice bucket challenge, but is the net now closing in on Ed Miliband? Labour MP Stephen Twigg filmed himself being doused in ice cold water last week, and nominated his fellow Merseyside MPs Luci...

  • = Key Development Wednesday 30th July
  • 17:08 Ed Balls: Death tax is not a Labour policy On air

    On Air | Ed Balls MP | Shadow Chancellor | LBC radio Video Ed Balls MP

    Ed Balls said Andy Burnham's death tax idea was discussed a few years ago but insisted it was not a Labour policy. "It's not the policy of the Labour party to have a tax on death. We had our national policy forum a couple of weeks ago in... Continue to article

  • 08:15 Ed Balls: Labour would go further than bonus clawback plans On air

    On Air | Ed Balls MP | Shadow Chancellor | Today, BBC Radio 4 Video Ed Balls MP

    Ed Balls welcomed the Bank of England’s call for a clawback on banker’s bonuses, but said a Labour government would go further. “We’ll see the full details later this morning. There’s some suggestion there’s been some watering down. But,... Continue to article

  • 07:40 Conservatives statement: Conservative response to Balls' speech excerpts Press Release

    07:40| Press Release | Conservatives Conservatives

    Conservatives press release Responding to excerpts of Ed Balls’ speech, Exchequer Secretary to the Treasury Priti Patel MP said: “Ed Balls’ speech would mean £17 billion more spending, but he has only found £105 million to pay for it.... Continue to article

  • = Key Development Sunday 27th July
  • 07:00 Digby Jones: In the week the economy returned to pre-crisis level... Why I, as an ex Labour Minister, think Ed Balls MUST apologise for the mess he left us in News

    Opinion | The Mail on Sunday source icon

    Please, politicians of all colours, leave your ideology at the door, show you have learned the lessons of the past and build a skilled, competitive economy of which our grandchildren can be proud. Continue to article

  • = Key Development Friday 25th July
  • 13:24 Danny Alexander: Growth figures welcome but it's not job done yet On air

    On Air | Danny Alexander MP | Chief Secretary to the Treasur... | World at One, BBC Radio 4 Video Danny Alexander MP

    Danny Alexander welcomed today's growth figures and disagreed with suggestions that the Coalition Government's policies delayed the recovery. "It clearly isn't job done, but it is a good set of figures for the UK today, it's the mission ... Continue to article

  • 11:37 Ed Balls: Growth figures ignore cost of living pressure On air

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

    Ed Balls said people were still under pressure from the cost of living, despite the news that economic growth has returned to pre-recession levels.  “Finally we have got back to where we were in 2007, it’s happened three years after Amer... Continue to article

  • 09:35 Glyn Davies tweets: IMF tell us the UK will be fastest growing economy in the G7 this year. Even Ed Balls will find it tough to spin this negatively. Great news

    Twitter | Glyn Davies Twitter source icon

    IMF tell us the UK will be fastest growing economy in the G7 this year. Even Ed Balls will find it tough to spin this negatively. Great news

  • = Key Development Thursday 24th July
  • 12:20 Ed Balls: Removing Shoesmith only way to maintain confidence in children's services On air

    On Air | Ed Balls MP | Shadow Chancellor | Jeremy Vine, BBC Radio 2 Video Ed Balls MP

    Ed Balls defended his decision to sack Sharon Shoesmith as Haringey council's head of children's services over the Baby P case, in spite of an appeal court's criticism of his actions. "I’m afraid what happens in our society is that when ... Continue to article

  • = Key Development Thursday 10th July
  • 12:41 Labour 'weak' on public sector strikes, says Maude House of Commons

    Labour 'weak' on public sector strikes, says Maude House of Commons

    Cabinet Office Minister Francis Maude has accused Labour of being "weak" because of their failure to support or condemn the public sector worker strikes today. In a statement to the House, Mr Maude pointed out that Ed Miliband and the Sh... Continue to article

  • = Key Development Thursday 3rd July
  • 18:38 Waugh Room: Silly, stupid things, words The Waugh Room

    18:38 | The Waugh Room | PoliticsHome The Waugh Room Silly, stupid things, words

    Ever since he helped draft Gordon Brown's five (unpassable) tests for UK membership of the euro, Ed Balls has long been a Brussels sceptic. And it was no surprise when he last year said it would be 'stupid' for Labour to rule out an In-O... Continue to article

  • 12:48 Ed Balls: Labour offers change, not business-as-usual On air

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

    Ed Balls said change was needed to ensure Britain continued to offer good jobs for people. “We have a great history in our country of innovation, science, wealth creation. But for the 21st century, we need more good jobs, we will need mo... Continue to article

  • 10:42 Transcript: Ed Miliband's speech to the Policy Network Inclusive Prosperity Conference Transcripts

    Ed Miliband's speech to the Policy Network Inclusive Prosperity Conference Transcripts

    Thank you for that very kind introduction.   And thank you all for being here today.   Thanks to Mike Wright, John Armitt, Maggie Philbin and Andrew Adonis for their inspiring presentations.   I was with Andrew this Tuesda... Continue to article

  • = Key Development Wednesday 2nd July
  • 23:16 Ed Balls: Labour will cut business rates, not corporation tax On air

    On Air | Ed Balls MP | Shadow Chancellor | Newsnight, BBC 2 Video Ed Balls MP

    Ed Balls confirmed Labour would not cut corporation tax if it came to power, instead pushing for lower business rates "I said that we supported the cut in corporation tax down from 33p down to 21p. I said we wanted to keep the lowest lev... Continue to article

  • = Key Development Monday 30th June
  • 23:10 Len McCluskey: Miliband needs to demonstrate a cohesive package for working people On air

    On Air | Len McCluskey | Unite general secretary | Newsnight, BBC Two Video Len McCluskey

    Len McCluskey said Ed Miliband needed to "demonstrate with a cohesive package what new deal he is going to present to working people". "I think there's been some really interesting debates taking place within the party. Jon Cruddas and A... Continue to article

  • 19:39 Transcript: Matt Hancock MP: Labour has failed the pro-business test Transcripts

    Matt Hancock MP: Labour has failed the pro-business test Transcripts

    Skills and Enterprise Minister Matthew Hancock argues that only the Conservatives can lay claim to being the party of business and opportunity   Having lost the argument on the economy, Labour have today demonstrated conclusively that th... Continue to article

  • 15:26 Janan Ganesh tweets: Ed Balls's pro-business line, if developed and sustained, will do more for Labour than all the defrosted corporatism of the past year.

    Twitter | Janan Ganesh Twitter source icon

    Ed Balls's pro-business line, if developed and sustained, will do more for Labour than all the defrosted corporatism of the past year.

  • 13:25 John Mills: Balls' pledge a step towards a comprehensive economic package On air

    On Air | John Mills | Labour donor | World at One, BBC Radio 4 Video John Mills

    John Mills welcomed Ed Balls’ pledge today that Labour would ensure Britain kept the lowest corporation tax rates in the G7. “Possibly [some of Labour’s rhetoric in the past could be seen as anti-business]. I think that as elections appr... Continue to article

  • 13:15 Ed Balls: Labour is pro-business, not pro-business as usual On air

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

    Ed Balls dismissed suggestions that Labour was 'anti-business'. "As Ed Miliband said in his Sunday Times article, we are pro-business, but we're not pro-business as usual, we know there has to be change in our economy. If you look at the... Continue to article

  • 11:30 Shabana Mahmood: Labour did not focus enough on the 50% who didn't go to university On air

    On Air | Shabana Mahmood MP | Shadow Exchequer Secretary | Daily Politics, BBC Two Video Shabana Mahmood MP

    Shabana Mahmood defended Labour’s target to get 50% of school leavers into higher education, but admitted that the other half did not get sufficient support.   “I think Ed’s [Balls] right to say that looking at the skills offer for the w... Continue to article

  • 11:26 Grant Shapps: Unions won't let Labour pursue pro-business policies On air

    On Air | Grant Shapps MP | Tory Party chairman | Daily Politics, BBC Two Video Grant Shapps MP

    Grant Shapps said businesses felt Labour had pursued a “deliberate agenda” against businesses. “I think most businesspeople will be watching Ed Balls this morning in complete disbelief. They’ve spent the last four years attacking busines... Continue to article

  • 10:53 Balls: Labour will support British business and tackle tax avoidance PoliticsHome News

    Balls: Labour will support British business and tackle tax avoidance PoliticsHome News

    Ed Balls has set out plans for reform of the tax system, which included a commitment to keeping corporation tax below 26.5% and clamping down on tax avoidance. The Shadow Chancellor attempted to establish a clear stance on Labour’s relat... Continue to article

  • = Key Development Sunday 29th June
  • 09:38 Ed Balls: I share Cruddas' frustration, but no Labour split On air

    On Air | Ed Balls MP | Shadow Chancellor | Andrew Marr Show, BBC One Video Ed Balls MP

    Ed Balls insisted Labour was not afraid to take radical decisions and denied there was a split with policy review chief Jon Cruddas, after he described a “dead hand” at the centre of the party blocking bold reform. “We’re going to come u... Continue to article

  • = Key Development Friday 27th June
  • 16:06 In Brief Events

    16:06 | Events | PoliticsHome Events

    Prime minister David Cameron announces a rail improvements package for Cornwall on a visit to the South West and visits Scotland to discuss the union Labour leader Ed Miliband (10.05), shadow chancellor Ed Balls (09.25), shadow business ... Continue to article

  • = Key Development Wednesday 25th June
  • 17:31 Ed Balls says Osborne 'not engaged' over OBR scrutiny of party manifestos House of Commons

    Ed Balls says Osborne 'not engaged' over OBR scrutiny of party manifestos House of Commons

    Ed Balls urged the House of Commons to support his proposals for the OBR to audit parties’ manifestos, ahead of a vote later today. The Shadow Chancellor also accused George Osborne of not engaging on the issue, as the Chancellor failed ... Continue to article

  • 07:58 Ed Balls: OBR spending pledge audit would be good for politics On air

    On Air | Ed Balls MP | Shadow Chancellor | Today, BBC Radio 4 Video Ed Balls MP

    Ed Balls claimed an audit of the parties' manifesto spending commitments by the Office for Budget Responsibility would help combat political disillusionment. "I think it's important that people see that our sums add up, that every commit... Continue to article

  • = Key Development Tuesday 24th June
  • 12:30 Balls and Osborne clash over Coulson House of Commons

    Balls and Osborne clash over Coulson House of Commons

    Ed Balls has accused George Osborne of bringing the Government into disrepute by hiring Andy Coulson, after the former No 10 communications chief was found guilty of phone hacking. Following a long-running trial stemming from allegation... Continue to article

  • = Key Development Monday 23rd June
  • 14:10 Dot Commons: High Speed three-line whip Dot Commons

    PoliticsHome

    Ed Balls said "nobody will believe" George Osborne's claims to be planning to regenerate the North with a new high-speed rail link. The IEA called it a "headline-grabbing vanity project". However, Natalie Rowe aka Madam Pain, just simply th...

  • 07:20 Labour statement: Labour: Ed Balls comments ahead of George Osborne speech Press Release

    07:20| Press Release | Labour Labour

    Labour press release Ed Balls MP, Labour's shadow chancellor, commenting ahead of George Osborne's speech, said: "Nobody will believe the Tories can deliver the jobs, growth and investment we need for the North of England. "Regiona... Continue to article

  • = Key Development Thursday 19th June
  • 20:00 News

  • = Key Development Wednesday 18th June
  • 15:20 News

  • = Key Development Friday 13th June
  • 14:46 News

  • = Key Development Thursday 12th June
  • 13:09 News

  • = Key Development Monday 9th June
  • 15:10 News

  • = Key Development Thursday 5th June
  • 20:00 News

  • = Key Development Tuesday 3rd June
  • 18:35 News

  • = Key Development Friday 30th May
  • 10:07 News

  • = Key Development Thursday 29th May
  • 22:00 News

  • = Key Development Tuesday 20th May
  • 15:15 News

  • = Key Development Thursday 10th April
  • 15:54 News

  • 08:47 News

  • 06:47 News

Stories involving Ed Balls

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."

 


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."


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.


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.


NHS funds £0.5bn 'clawback'

The Treasury has been accused of failing to publicly disclose its plans to claw back £500m that was allocated for health spending this year. Ed Balls said that the "tax grab" on pensioners, referred to in the media as the 'granny tax', was "not the only hidden bombshell in the budget. David Cameron and George Osborne have silently taken half a billion pounds from the National Health Service". Figures published in the Budget show the Department of Health underspent its allocation by £900m this year and whilst £400m will be rolled over into this year's budget, the remaining £500m will be returned to the Treasury.