Ed Balls urges Chancellor to build roads and homes

Shadow Chancellor Ed Balls has attacked George Osborne for focussing on cuts instead of infrastructure projects that he claims would help the economic recovery.

Writing in the Evening Standard, Mr Balls argues that the government should take advantage of "record low" interest rates and bring forward investment in homes and transport:

If Osborne acted now to boost the economy and so bring in more tax revenues, the scale of cuts could be reduced. That is why Ed Miliband and I have urged the Chancellor to heed the warnings of the IMF, which last month called on the Government to bring forward £10 billion of infrastructure investment right now.

Getting construction workers back to work repairing Britain’s broken roads, improving transport links and building the affordable homes we need will create jobs now, make our economy stronger and give us a long-term return.

– ed balls, shadow chancellor

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Osborne signs off budget cuts

The Chancellor, George Osborne has reached agreement with Cabinet colleagues over the extent of cuts to their budgets.