AS2013: Balls questions government lending policies
Shadow chancellor claims net lending to businesses down £100bn compared to May 2010
ED BALLS today accused George Osborne of being in “complete denial” on the cost of living crisis and claimed government policy had failed to encourage lending to British businesses.
In his response to Osborne’s Autumn Statement address, the shadow chancellor claimed that net lending to businesses had fallen £100bn compared to May 2010.
Balls’ main attack centred on the cost of living crisis, and that the economic recovery failed to benefit normal “hard working people” who were £1,600 worse off than in 2010.
“Hard-working people in this country aren’t better off with this out-of-touch Chancellor and Prime Minister,” Balls told the Commons.
Balls also called on the government to scrap its “perverse” bedroom tax.