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Osborne prepares for his Autumn Statement

Chancellor George Osborne will make his Autumn Statement later this week Photo: PA Wire

There's one key word for the Chancellor this week. Not debt or deficit, wealth or welfare. No, the word that most people want to hear is growth - and how to get the economy moving.

As one economist put it to me, everything else to do with the Autumn Statement is really tinkering around the edges.

So there are calls for spending to be moved around to generate growth. For example, more money spent on infrastructure projects to help boost construction.

Businesses need more credit. So there's more pressure on George Osborne to force the banks to lend. So far his attempts haven't been successful.

The problem for him is that there is so little cash around. The Government is already on course to borrow more this year than had been forecast.

So it's no surprise that the Chancellor is hinting that he will renege on his deficit and debt targets. Unless of course he wants to put up taxes or slash public spending further. Few believe that will result in much growth.

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