Nick Clegg
Media playback is unsupported on your device

Clegg: Long road to prosperity for UK economy

Nick Clegg has defended the government against accusations that it does not have a plan for boosting the economy, but admitted that "the nation faces a long, hard road back to prosperity".

The deputy PM's comments came as he made a speech to set out how the coalition plans to create growth, after figures showed the economy contracted in late 2010.

"We are determined to foster a new model of economic growth, and a new economy - one built on enterprise and investment, not unsustainable debt. We seek nothing less than a new model of sustainable growth," he said.

Go to next video: UK economy suffers 0.5% contraction