Ed Miliband’s March Press conference: Liveblog

By Mark Ferguson / @markfergusonuk

Verdict: A strong performance today from both Eds who are increasingly looking like a capable double act. There was always a risk that these two long-time colleagues could clash, but instead there was sweet harmony, as Miliband abd Balls complimented each other. Long gone was the (naughty?) chair reserved for Alan Johnson at the last Mili-presser held in this room in January. In its place stood a podium. Ed Balls is worthy of his own podium. Similarly, while Johnson had been a supporting actor in January’s proceedings, Ed Balls was a co-lead. Every economic question (and they were the majority) produced a response from the shadow chancellor, and usually the responses were longer than those given by the Labour leader.

Balls also got to make the substantive announcement today on Labour’s alternative growth plan – billed as providing 110,000 new jobs. Unfortunately, judging by the reaction of the assembled press to this announcement, the details of this important announcement are likely to be largely ignored. We are still, sadly, mired in the quicksand of “what would you cut?”.

So on the surface Ed Balls is an equal partner in Ed Miliband’s New Generation. He certainly speaks with the confidence and authority of someone who is comfortable with their brief, and knows that they have significant latitude to make important decisions. Yet Ed Balls isn’t getting his own way – or at least not entirely. The proposal to buildhuge quantities of social housing was impressive, and it’s much needed. Yet the sum that Balls announced today is only a fifth of the sum that he called for on LabourList during the leadership contest. Outside of an internal election, and with Miliband moderating his desire for significant capital spending to boost the economy, Balls’ proposal has been watered down. At the same time though, the economy now seems a much stronger for Labour, as an issue, than it did under Johnson. These two Eds compliement each other, moderate each other, and push each other. And they need each other.

Two Eds, two equals, two economists. But still, some Eds are more equal than others…

12.01: The press conference draws to a close with a series of questions on the economy. As the economy is the biggest political issue of the moment, and has been the focus of all of Ed Miliband’s recent major press events, I’d expect Ed Balls to appear beside him again.

11.52: Miliband is clearly more relaxed than he was even a couple of months ago. He knows the names in the crowd, his responses are concise, and he’s smiling and telling jokes. Balls and Miliband are actually quite a strong double act.

11.42: Interesting question from the Mirror’s James Lyons, who says that the PLP were furious that Labour didn’t vote against the government’s welfare reform plans. Miliband says he doesn’t agree that the PLP were angry. You can read the logic behind Labour’s abstention here.

11.37: Nick Clegg pulled the plug on a pro-AV event featuring Caroline Lucas, Charles Kennedy and the Labour leader after the DPM wasn’t invited to speak. Charles Kennedy won’t be pleased…

11.34: Last week I said that Labour needed an economic mea culpa on financial regulation. Today Ed Balls has come pretty close to that, putting his hands up and admitting that Labour were wrong (along with most Western economies) on financial regulation.

11.33: Ed Miliband says he won’t share a platform with Nick Clegg over AV, and that the best thing Clegg can do if he wants to win the referendum is “lie low”.

11.30: Ed Miliband isn’t anywhere near as cool on Lord Hutton’s welfare reforms as might have been expected – he says that Hutton has taken a serious look at public sector pensions, and that Labour will be studying his proposals. That’s not the response the unions and many Labour supporters will have wanted.

11.26: It’s important to note though that Ed Balls LabourList article urged £6 billion in spending on affordable housing, compared to today’s announcement – a watered down £1.2 billion. The principle is the same, but the funding is just 20% of that quoted in September.

11.25: Ed Balls today presented a growth plan including spending on affordable housing – he did the same on LabourList last year, in an article that’s worth revisiting today.

11.20: Both Miliband and Balls have been robust in defence of the “Darling Plan” to half the deficit over the course of this parliament. Balls goes as far as saying that suggestions that Labour and Tory economic plans are “nonsense”. Nick Robinson isn’t happy with that answer – for a change.

11.17: I’m not sure if this means anything, but back in January in this same room, Alan Johnson was sat on a seat beside Miliband. At this press conference there are two podiums – with both Eds standing at the front as equals.

11.13: The growth plan:

– £1.2 billion on affordable housing (creating 20,000 jobs)

– 90,000 jobs for young people

– £200 million on regional growth

11.12: Ed Balls is laying out not only proposals for an alternative growth plan, but he has just listed all of the potential external excuses that Osborne may use next week to explain poor growth.

11.07: Now there’s an attack on TINA (There Is No Alternative) – Miliband has now attacked the current government’s plan. Now will he set out the alternative?

11.05: Buuzwords so far today have been growth and Cameron. It’s clear that Ed Miliband is trying to pin next week’s budget on the Prime Minister.

11.00: This month’s Ed Miliband press conference is about to start. This time Miliband will be joined by Ed Balls, and it will be all about the economy ahead of the budget. Expect alternative policies for growth to play a large part in this morning’s events.