“Its location next to Parliament emphasises the importance the UK places in remembering mass murder that defined the 20th century.”
A design competition was held last year, with architectural firms encouraged to submit plans for the memorial and learning centre.
In October, a panel of judges which included Holocaust survivors, the Mayor of London and the Chief Rabbi chose Adjaye Associates, Ron Arad Architects and landscape architects Gustafson Porter and Bowman as the winning team.
Mr Balls said: “It is our task to ensure that Britain’s national memorial and learning centre serves both as a permanent record of the past and a clear warning for the future.
“There is much excellent work already going on in the UK, which we will build on, and around the world, which we can learn from, and like Eric, I am hugely grateful to the Prime Minister for putting her trust in us to see this vital project through to completion."
