Shadow chancellor Ed Balls welcomed the incoming governor as a "good choice, good judgement".
If the coalition adopted the proposals, Labour would back it, the shadow chancellor said.
BBC: Labour conference: Balls unveils five-point growth plan
Shadow Chancellor Ed Balls has confessed to being caught speeding, saying he was "bang to rights".
Sensing the political risk, Ed Balls, the shadow chancellor, has implored the unions not to strike.
There was also criticism of George Osborne's dual role as shadow chancellor and campaign supremo.
You can see why the shadow chancellor, Ed Balls, would like to talk about Keynes.
Shadow chancellor Michael Portillo described the result as disappointing but called for a period of reflection.
And yet both are quotes from the same interview with the shadow chancellor on Saturday.
This hostage to fortune has not survived the appointment of Michael Portillo as shadow chancellor.
Shadow Chancellor Alan Johnson has denounced spending cuts plans as a "reckless gamble with people's livelihoods".
Shadow chancellor Ed Balls argued "distorted" contracts, where employees are falsely described as "self-employed", are undermining safety.
BBC: TUC Congress: Balls pledge over scams in building industry
But Shadow Chancellor Ed Balls, for Labour, accused Mr Osborne of breaking his own rules, on which his credibility depended.
Powerful public-sector union leaders condemned the pay freeze almost before the shadow chancellor was off the podium.
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Shadow chancellor George Osborne said the comments shattered Labour's charge that only the Conservatives oppose the VAT measures.
Shadow chancellor Ed Balls praised the news but said that the figures "show that underlying growth remains weak".
Shadow chancellor Ed Balls said it was "no wonder" that George Osborne found himself outvoted 26-to-1 at Tuesday's meeting.
However, Labour's shadow chancellor, Ed Balls, said it was time to "change the medicine - or change the doctor".
The shadow chancellor said Britain's economy faced a "global growth crisis" which was becoming "more dangerous by the day".
BBC: Labour conference: Balls unveils five-point growth plan
Shadow chancellor Ed Balls said he felt the report was "tough" on banks.
Three years ago the shadow chancellor, George Osborne, appeared to suggest Prime Minister Gordon Brown could be "faintly autistic".
For the shadow chancellor Ed Balls the focus was immediately the targets George Osborne set himself, and has missed.
Shadow chancellor George Osborne says the increased availability of credit had many advantages but it could cause financial misery.
BBC: NEWS | UK | UK Politics | Tories warn of 'credit card' UK
Doubtless the shadow chancellor Ed Balls will be muttering about pots and kettles.
Shadow chancellor Ed Balls has demonstrated some warmth towards the wealth tax idea.
BBC: Lib Dem conference: Stick to bargain, Clegg warns Tories
The priority, says George Osborne, the shadow chancellor of the exchequer, is to undo the planned increase in national-insurance contributions.
For Labour, shadow chancellor Ed Balls told BBC News the VAT rise in January had already put fuel prices up.
BBC: Budget 2011: Oil firms warn jobs will go after tax hike
It was the task of two reporters from Hinchley Wood School in Surrey to interview the shadow chancellor, George Osborne.
The shadow chancellor also attacked the decision to freeze the age-related pension allowance, labelling it a "tax grab on pensioners".
Rather cheekily he questioned what David Cameron had actually been discussing with his shadow chancellor over the last few weeks.
George Osborne, the shadow chancellor, clung for too long to his fair-weather formula about sharing the proceeds of non-existent growth.
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