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The know-it-all shadow
finance minister claims that the coalition have room to change their fiscal
policies, but won't, because, unlike the
He claimed, as Labour politicians have done all the way throughout, that with their austerity package they had “slammed on the brakes” too fast, and are now paying for it with a flat lining economy, and rising unemployment.
His comments came as the new
head of the International Monetary Fund hinted, only very slightly, that the
According to Balls, Tory Chancellors of the past, like Norman Lamont, fell into the trap of not changing their course with their economic plans when they were not working, and ended up falling back into recessions.
Balls said that the Chancellor should be concentrating on cutting taxes, and putting more money in people’s pockets.
responded to an OECD report yesterday, which said
Balls also told Sky News that the Chancellor’s plans were wreckless.
The new head of the IMF, also apparently said that growth was also an important factor in trying to nurse any ailing economy.
The economy has grown by just 0.2% over the last few months, according to the Office for National Statistics, and the Bank of England have kept interest rates at just 0.5% for the last few months as well.
Chancellor George Osborne has said though that the coalition economic plans are flexible enough to deal with changing tides in the economy.
slow growth had been originally blamed in the last six months, due to the Royal