Balls to warn of economic "hurricane"
The Labour leadership contender will claim the chancellor George Osborne is a "growth denier", according to a report in The Financial Times.
In his speech, Mr Balls will say: "What he is now doing is the equivalent of ripping out the foundations of the house just as the hurricane is about to hit.
"We have just experienced the biggest global financial crisis in a century, an event as momentous in historical and financial terms as war, famine or plague."
Mr Balls will argue Labour should stand outside the consensus and challenge the view of Mr Osborne, the Treasury and Bank of England governor Mervyn King that there is no alternative to fast and deep cuts.