Economic plan working, says Osborne

Press Association
George Osborne
George Osborne

George Osborne has insisted the Government is sticking to its economic course telling business leaders "now is not the time to lose our nerve".

Spending more to rejuvenate the UK's fortunes is "patently ludicrous" and would set the recovery back, the Chancellor added. Addressing the CBI annual dinner at Grosvenor House, he also rubbished Labour calls for a temporary VAT cut, claiming the figures do not "stack up".