Prime minister Gordon Brown has visited the Beormund Community Centre for the second time this year to meet local families at a SureStart nursery.
The PM is to spend two days touring the UK to talk to parents about the current economic situation and explain how the Government is tackling it.
The ministers chatted with parents and toddlers with Mr Balls joining in with craft activities at the clay table.
In May the PM chose the Beormund for the launch of the Government's draft legislative programme.
In June Mr Brown and Mr Balls visited another SE1 nursery.
While the prime minister was in Bermondsey the constituency's Lib Dem MP Simon Hughes was speaking in the House of Commons about the impact of the economic crisis on small businesses.
Mr Hughes said the vast majority of British workers are employed in small businesses not large multi-national firms. He referred to widespread reports that banks are still offering loans to small businesses at high interest rates and sought assurance that the government will do everything it can so that small businesses do not suffer.
Mr Hughes also asked the Government to work with councils to ensure that the shortage of affordable housing is not worsened by the financial crisis.
For the latest local news and events direct to your inbox every Monday, you need our weekly email newsletter SE1 Direct.
7,000+ locals read it every week. Can you afford to miss out?
Read the latest issue before signing up