George Osborne
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Autumn Statement: Why is the deficit not shrinking?

George Osborne has warned the UK faces even tougher times in the near future, because the government is struggling to reduce its deficit as quickly as had been hoped.

The chancellor said the problem was down to the eurozone crisis, a hike in global commodity prices and the fact that the UK's economic boom was bigger and the bust deeper than previously thought.

Hugh Pym reports.

  • 29 Nov 2011
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