Shadow Chancellor Ed Balls: We need action on economy

Shadow Chancellor Ed Balls has said that it is "time for action" to try and boost the UK economy as it is "too dangerous a time to be complacent".

Speaking to the BBC, he warned that the pace of government cuts to try and reduce the deficit was too fast and suggested it was to blame for the economy "flatlining".

His comments came after the International Monetary Fund (IMF) warned that economic hard times are set to continue around the world. Britain's GDP forecast was cut to 1.1% for 2011