The Labour leader's plans for government can factor in the prospect of having Balls as his chancellor, but in a shrunken empire.
Despite being repeatedly pressed by Ed Balls at Treasury questions, the Chancellor refuses to comment on whether the Tories want to reduce the top rate from 45 per cent to 40 per cent.
Is it a temporary tax or a permanent one?
The latest figures from HMRC show that people earning over £150,000 paid almost £10bn more in tax in the three years when the 50p rate was in place. We need to get the deficit down in a fair way.
Unlike Osborne's budget surplus pledge, Balls's only applies to current spending, leaving open the option of borrowing to fund infrastructure.
If the party does borrow for investment after 2015, it will be childcare, jobs and housing that benefit.
It would look presumptive to start naming his cabinet before the election and would put him under pressure to guarantee others their jobs.
Shadow chancellor insists "there’s no prospect of an unhappy relationship" but says the Bank of England governor is wrong to oppose a cap on bank bonuses.
To allow the Liberal Democrats to swap sides without incurring any penalty would offend the essential order of our democracy.
The shadow chancellor rejects claims that he lacks enthusiasm for Miliband's agenda and declares his support for "a different kind of economy".