It’s nothing short of a victory for the Government.
There is only one choice worse that Ed Balls and that’s Gordon Brown.
Balls is the face of the recession. It happened on his watch as he was there advising Brown when the decision to not properly regulate the banks was taken.
As Brown’s apprentice Balls has zero credibility as Shadow Chancellor, and his imitation of his mentor’s ‘do nothing and wait’ mentality for restoring the UK’s battered finances and international reputation, will I think, be about as popular with the public as it certainly is with the business community.
By allowing Ed Balls to weasel his way into the Shadow Chancellor’s job, Labour has done the country a huge favour by guaranteeing they will not get their hands on our national finances for many years to come.
This gives us the change to get things moving, which is exactly the position George Osborne and David Cameron are taking – it will be painful but we will just have to suck it up!