And to rub salt in the wound to Balls’s grand standing on the economy, the CBI chief John Cridland said on his plans for a temporary VAT cut that it would mean adding more to the borrowing.
Ed Balls was unable to give solid figures on Boulton and co on his tax and spending plans, but did say that the VAT cut proposal would probably cost £12 billion. He said that despite the coalition’s debt reduction programme, borrowing was still rising, but until he saw the figures, he couldn’t properly give a figure on his.
Cridland did say though that Labour were trying to prevent themselves from spending too much when it came to their economic plans outlined by Ed Balls earlier on in the afternoon.
Cridland also said he welcomed the Labour proposal on trying to boost jobs for young people – whereas, he said, the Tory led coalition was focusing more on apprenticeships.
But Cridland still believed that Labour are “trying to spend money they haven’t got.”