Shadow Chancellor Ed Balls
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Ed Balls: Labour would back mansion tax to fund tax credits

Labour says it is prepared to work with the government to introduce a mansion tax.

But the Shadow Chancellor Ed Balls insists any money raised should be spent on halting cuts to working families tax credits and not on scrapping the 50p income tax rate.

Speaking to the BBC, he said that with Britain's economy growing more slowly than its competitors, this month's Budget needs to stimulate growth.

Nick Robinson reports.

  • 08 Mar 2012