The U.K. government's economic policies are much "more murky" than meets the eye, Ed Balls, shadow finance minister in the opposition Labour Party, told CNBC Thursday.
His comments come a day after the U.K.'s Chancellor, George Osborne, presented his annual budget on Wednesday. With just two months to go before a general election in the U.K., Osborne's Budget aimed to please voters with tax breaks for first-time home buyers, workers and pensioners.
Telling a packed parliament in London that the government was meeting its targets to reduce the U.K's debt levels, Osborne said, "We will end this parliament with Britain's national debt share falling. The sun is starting to shine - and we are fixing the roof."
"I've been involved in budgets in our country in 20 years and once of the things you learn is that you can't judge the budget until the first 24-36 hours (have passed). On the first day, the chancellor gets the headlines and then people look to see what's really going on," Balls told CNBC Europe Thursday.