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The shadow chancellor Ed Balls has criticised the Conservative Party for creating a "wage and living standards crisis."

He told Today's James Naughtie that Labour would raise the minimum wage if elected.

He said he was "not going to make promises today, when I don't know what's going to happen to growth and to wages and taxes." But added he wants to get the current budget back in surplus in the next parliament.

First broadcast on Radio 4's Today programme 4 December 2014.