Ruth Porter appears on BBC Radio 2's Jeremy Vine show
Ruth outlined how Balls is trying to address two challenges, economic growth and housing affordability. With the expected £4 billion, the best thing to do would be to attempt to eliminate the deficit, which is what will help the economy in the long-term. Alternatively the money could be used to fund tax cuts which would help people with the increasing costs of living.
Housing affordability is also a huge issue in the UK. Ruth aruged that it isn’t due to a lack of capital, but becase of restrictive planning laws and economic uncertainty. Putting money into infrastructure is pointless considering there are private companies willing to invest. There needs to be a focus on cutting the deficit and increasing economic certainty to spur on growth.
Listen here. Segment starts at 39:30.