New Balls?

Given that Ed Balls’ strategy has backfired on his party so far, with Labour ten points behind the Tories on economic credibility, something has to change. Either the policies, or the shadow chancellor. Read between the lines of Balls’ speech today, and you can see a man backtracking – and trying to hold on to his job. Even when Balls tells porkies, he does so with imagination and élan. He is always worth listening to. He had the 8.10am slot on Today this morning. Here’s what jumped out at me:

1) Mea Culpa, kinda.
The other day in the Commons, Balls said sorry – you could tell then that it’s the first of many.  He repeated it again, while making clear that he is no more guilty than any finance minister anywhere around the world. “The banking crisis was a disaster. All over the world, banks behaved irresponsibly and regulation wasn’t tough enough.