Political Activities
Balls has played a prominent role in the Fabian Society. In 1992 he wrote a Fabian pamphlet advocating Bank of England independence, a policy adopted when Gordon Brown became Chancellor in 1997.
Balls was elected Vice-Chair of the Fabian Society for 2006 and Chair of the Fabian Society for 2007. As Vice-Chair of the Fabian Society, he launched the Fabian Life Chances Commission report in April 2006 and opened the Society's Next Decade lecture series in November 2006, arguing for closer European cooperation on the environment.
Balls has been a central figure in New Labour's economic reform agenda. He and Gordon Brown have differed from the Blairites in being keen to stress their roots in Labour party intellectual traditions such as Fabianism and the co-operative movement as well as their modernising credentials in policy and electoral terms. In a New Statesman interview in March 2006, Martin Bright writes that Balls "says the use of the term 'socialist' is less of a problem for his generation than it has been for older politicians like Blair and Brown, who remain bruised by the ideological warfare of the 1970s and 1980s".
"When I was at college, the economic system in eastern Europe was crumbling. We didn't have to ask the question of whether we should adopt a globally integrated, market-based model. For me, it is now a question of what values you have. Socialism, as represented by the Labour Party, the Fabian Society, the Co-operative movement, is a tradition I can be proud of", said Balls.
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