Families worse off under Tories by £1,100 a year on average, says Ed Balls

Labour highlights figures showing cost to families with children from rise in VAT and cuts to tax credits under Conservatives

Households are worse off to the tune of 1,100 a year as a result of the rise in VAT and cuts to tax credits, according to Ed Balls.

Balls has released a new poster with the figure of 1,100 superimposed over the black door of the chancellor's official Downing Street residence. The poster says: "1,100. The cost of a Tory chancellor."