Where Ed Balls went wrong
In today’s Observer, Andrew Rawnsley says that Ed Balls has become a victim of his own success. The Shadow Chancellor predicted the George Osborne ‘would smother growth by cutting too far, too fast…The coalition jeered that Mr Balls was a deficit-denier and an unreconstructed old Keynesian,’ says Rawnsley — as if this has been subsequently disproven. But rather than take a bow, poor Mr Balls has to adjust to the consequences of Osborne’s failure by admitting even he’d have to administer austerity. So it looks like a concession! Unkind souls like Dan Hodges conclude that ‘Ed Balls is now sleeping with the fishes.’ In fact, Balls is in trouble because his first