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John Longworth, Director General of the British Chambers of Commerce, told ITV News the government would need to take "radical" measures in a bid to end the "long term sluggish growth".
He called on the Chancellor to deliver "massive infrastructure development" and a "restructuring of business finance in the UK".
Director General of the Confederation of British Industry John Cridland told ITV News he supports the Chancellor's Autumn Statement but added that George Osborne must "deliver on the ground for businesses".
The head of the Office for Budget Responsibility Robert Chote said the British economy is running three per cent below full capacity and predicted negative growth for this year.
The Chancellor managed a smile as he left the Treasury this morning, but there wouldn't be much to joke about in the message he was about to deliver to the country.
George Osborne had the unenviable task of adding a positive sheen to the announcement that there would be more austerity.
Romilly Weeks reports.
Latest ITV News reports
Britain may face further cuts and tax rises even after the next elections, the Institute for Fiscal Studies warned today.
While Chancellor George Osborne's Autumn Statement was mainly about spending cuts, there were incentives too but do the numbers add up?