You are here: Home - Investing -

Labour urges Osborne to U-turn on economy

Written by:
Labour's Ed Balls has called on the Chancellor to make a swift economic U-turn following yesterday's Budget speech.

The BBC reports the shadow chancellor said government policies had “sucked confidence” out of the economy.

Osborne told the commons yesterday that growth forecasts for 2013 had been halved to 0.6%.

Balls told the BBC: “The economy is not growing, If you’re a chancellor, if you made a mistake, do your U-turn quickly. The longer you wait, the worse it gets, and the harder it becomes politically, even if economically it’s the right thing.”

He accused Osborne of having a ‘self-denying ordinance’ which restricted him from anything but “tinkering at the edges”, the report said.

Osborne insists his strategy is working and said his Budget was aimed at “those who want to work and get on”.

MPs are due to debate the Budget later today.

Related Posts

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Everything you wanted to know about ISAs…but were afraid to ask

The new tax year is less than a fortnight away and for ISA savers or investors, it’s hugely important. If yo...

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week