George Osborne: 'UK's economic recovery is on track'

Chancellor George Osborne has said the UK's economic recovery is on track, after the Office for Budget Responsibility (OBR) published its growth forecast for the next three years.

In the report, the OBR said has said that gross domestic product would grow more slowly than expected in 2011 and 2012.

However it also revealed that the economy is growing faster than expected this year.

Chancellor George Osborne told MPs that the UK is on course to balance the books.