Asks Iain Martin, and I suspect he’s back in Rentoul territory. It is, nonetheless, a question that merits
more than a cursory no in reply. For all his egregiousness, you know where Balls stands: in the crude but distinctive colours of the old left. He is convinced that any approach to spending cuts
other than his own will precipitate a double-dip recession. As Iain puts it:
‘Balls is also calculating that the second half of a double-dip recession is on the way and is staking out ground on which he can be the one to proclaim to the country: I told you so.’
In terms of Britain’s economic debate, I agree with Pete: it would be preferable if Balls were banished to obscurity. But the Labour party is embarking on a long period of internal debate and rupture: Balls will not be peripheral even if either Miliband wins.

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