George Osborne
Media playback is unsupported on your device
Video

Autumn Statement 2014: Osborne to tighten the finances

The government's long term economic plan was working and the deficit has been halved since the last election, George Osborne has told MPs.

He told them they should stay on course to prosperity, and that the UK had the fastest growing major economy in the world.

The chancellor said the deficit was falling but "remains too high" and he would "tighten the finances a little"

It will be the last Autumn Statement ahead of the general election in May.

BBC Autumn Statement index

Go to next video: BBC editors on the Autumn Statement