Balls wants you to trust him

It’s only ten days or so since Ed Balls was last quizzed by Andrew Neil, but there he was rehashing many of the same lines on the Sunday Politics today. Among the things that stood out was this: the shadow chancellor’s argument on the public finances is ever more cleaving into two halves. First, he accuses George Osborne of borrowing £150 billion more over this Parliament than originally planned. (Although there’s a detail that often, conveniently, gets obscured: namely, that borrowing is still going down year-on-year under Osborne’s plan). Second, that Balls’s plan would decrease borrowing in the medium-term even though it would increase spending and reduce tax revenues in the short-term. His thinking is that a stimulus now would mean growth sooner, and that would improve the fiscal situation more rapidly than the coalition envisions.

Even if you have more faith in Balls’s economics than I do, it’s still a tricky argument for him to make.