Sunday, 23 January 2011

Ed Balls comes out fighting with attack on 'reckless gamble' over economy

The Labour Party Conference - Day 5

Labour leader Ed Miliband appointed Ed Balls as shadow chancellor following the surprise resignation of Alan Johnson. Photograph: Oli Scarff/Getty Images

Ed Balls, the new shadow chancellor, claimed on Saturday that the government's "reckless gamble" of massive spending cuts was already harming the economy as the country headed for high unemployment, lower mortgage lending and slower growth.

Balls, who was promoted last week after the surprise resignation of Alan Johnson, showed signs of a newly combative approach as he claimed that the coalition had turned a promising economic outlook into a gloomy one by pushing through "the fastest, deepest deficit reduction in Britain's peacetime history".

Courtesy of The Guardian

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