The Shadow Chancellor Ed Balls.
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Ed Balls: New investments will mean cuts elsewhere

The shadow chancellor Ed Balls has responded to the Chancellor George Osborne's plans for a multi-billion pound investment programme, aimed at getting Britain's economy moving.

He said that he expects the scheme to be funded by cuts elsewhere, such as in tax credits to families.

Mr Osborne said he plans to attract billions of pounds from British pension funds to boost £30bn worth of infrastructure schemes.