In 1925, when Britain went back to the gold standard, that was supported by the Conservative Party, the Labour Party, the Bank of England, the civil service, the CBI, the TUC, the Times, the Economist; that consensus was very strong.

Balls is married to current Shadow Home Secretary and fellow Labour MP Yvette Cooper. In June 2007 they became the first married couple to serve together in a British Cabinet when Cooper became Chief Secretary to the Treasury. Edward Michael Balls (born 25 February 1967) is a British Labour Party and Co-operative Partypolitician who has been the Member of Parliament (MP) for Morley and Outwood since 2010 and is the current Shadow Chancellor of the Exchequer.