The shadow Chancellor Chris Leslie has hit out at George Osborne's plan to make budget surpluses a legal requirement.
He said: "We need to deal with the deficit, and no-one would disagree with a surplus when economic circumstances allow or that investment is needed if the economy is in a downturn.
"But rather than giving speeches full of distraction techniques the Chancellor should be focusing on driving up productivity, setting out how he will pay for his multi-billion pound election pledges and explaining who will bear the burden of the still unexplained cuts planned.
"Sensible reductions in public spending and a balanced approach are needed - but the public need straight answers from the Chancellor now rather than politics."
Labour has called on the Government to ensure taxpayers get their money back when they sell off six per cent of Lloyds Banking Group.
Chris Leslie, Labour's shadow financial secretary to the Treasury, said:
“It’s vital that taxpayers get their money back and this must be the prime consideration in the sale of the government’s stakes in the banks.
"And as Labour has consistently said any profits from the sale should be used to repay the national debt."