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Ed Balls MP, Labour’s Shadow Chancellor, commenting ahead of David Cameron’s speech, said:

"David Cameron is totally out of touch and deeply complacent if he thinks Britain is on the right course. His failed policies have pushed us into recession and the Government is now set to borrow an extra £150 billion to pay for this economic failure.

"Plan A has failed in Britain, but it is also now failing across the eurozone. David Cameron must recognise the austerity policies which are failing in Europe are the very same policies that have failed in Britain and which the British Government has been urging eurozone countries to stick with.

"Our Prime Minister should be pushing for a positive resolution to the crisis and a change of course in Europe, on austerity and on the role of the European Central Bank.

"And instead of using the eurozone crisis as an excuse for Britain's problems David Cameron must wake up to the fact that our economy has not grown for over a year and a half on his watch. When countries like France and Germany have avoided recession, despite the eurozone's problems, it's clear Britain's double-dip recession was made in Downing Street.

"Instead of more complacency, it's time the Prime Minister did something about it. Only a balanced plan, which puts jobs and growth first, will successfully get the deficit down and do so in a fair way."

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