The Shadow Chancellor Ed Balls accused the current Chancellor of a catalogue of failures in his response to the Spending Review today:
– Ed Balls, Shadow Chancellor
He said the economy would grow by six per cent – but it’s grown by just one per cent.
He pledged to get the banks lending – but bank lending is down month on month on month.
He made the number one test of his economic credibility keeping the AAA credit rating – but on his watch we have been downgraded, not once but twice.
He promised living standards would rise – but they’re falling year on year.
He said we’re all in this together – but he has given a huge tax cut to millionaires.
He promised to balance the books – and that promise is in tatters.