Oral Answers to Questions

Ed Balls Excerpts

Wednesday 2nd February 2011 Commons Chamber

[The Prime Minister]

I certainly would not, and my hon. Friend makes an extremely good point, which is that at the weekend the shadow Chancellor stated boldly that there was no structural deficit when Labour left office, even though—

[Ed Balls (Morley and Outwood) (Lab/Co-op)]

indicated assent.

[The Prime Minister]

He nods now, even though the Institute for Fiscal Studies could not be clearer that we had one of the biggest structural deficits of anywhere in the advanced world. I have to say, if you start in opposition from a position of complete deficit denial, you will never be taken seriously again.