DEFICIT DENIER BALLS’ POLICY OWN GOAL

 

HE DOESN’T KNOW HIS RIGHT FROM HIS LEFT: ED BALLS’ CONTRADICTORY POLICY ANNOUNCEMENTS

In a rush to respond to the disappointing GDP figures today, Shadow Chancellor Ed Balls raised more questions than he answered about Labour’s economic policy.

Mr Balls insisted that he stood by “every paragraph” of a speech he made last summer in a pitch to become Labour leader – despite last week ditching his principles to get the Shadow Chancellor job. 

Speaking at Bloomberg in August 2010, Ed Balls rejected Alistair Darling’s plan to halve the deficit over four years. Instead he set out new tax rises including a mansion tax and revising down the 50p rate of income tax to everyone earning more than £100,000.

Last week, however, Balls promised Ed Miliband he would adopt the Darling plan, which would consolidate the public finances at a faster pace and make spending cuts starting this year. 

Michael Fallon, Conservative Party Deputy Chairman, said that Mr Balls was confused about Labour policy. He said, “Ed Balls had to ditch his economic plan to get the Shadow Chancellor job, but it has taken only five days for him to become confused about what Labour’s policy is.

“Ed Balls cannot escape his record. He was at Gordon Brown’s side when Labour maxed out the nation’s credit card and burdened our children and grandchildren with billions of debt.”

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