Speeches sourced from the Labour party’s online archive More…

Ed Balls MP, Labour's shadow chancellor, in response to George Osborne's article in the Sunday Telegraph which says that Britain's economic recovery "is being killed off" by the eurozone crisis, said:

"It's deeply complacent and out of touch for George Osborne to blame Europe for a double-dip recession made in Downing Street. He will fool nobody with these increasingly desperate excuses.

"Despite the eurozone crisis, Germany, France and the euro area as a whole have so far avoided recession while Britain's recovery was choked off in the autumn of 2010. Our domestic economy shrank last year and without exports to Europe and the rest of the world we would have been in recession over a year ago.

"Instead of coming up with excuses, George Osborne needs to finally realise his policies have failed. We urgently need a change of course and a plan for jobs and growth, here in Britain and in the eurozone, if we're to get people back to work and get deficits down. If we fail to act now, we will pay a very heavy long term price."

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