– Shadow Chancellor Ed Balls on the BBC 1 Andrew Marr Show
For two years we have debated was George Osborne's plan was going to work. It's failed. We now know on the latest figures borrowing is not falling, it's rising because of the double dip recession and we've got to act.
A mansion tax is a long term reform. Right now let us kick start this economy and Vince has had ideas about that in the past. I want to work with him on that too and we've got to say to George Osborne 'stop digging a deeper hole, stop being so arrogant when your plan has failed'.
Ed Balls issued a fresh appeal to Business Secretary Vince Cable to work with Labour on a Plan B for the economy today as he sought to exploit coalition tensions.