Osborne: 'Economic recovery will take time'

Chancellor George Osborne has told Daybreak that the he needs time to sort out the country's economic problems.

He said: "I'm not going to pretend that these problems will be solved overnight. They were many years in the making. We're making progress but it's going to take longer."

Advertisement

UK credit rating 'at risk'

The credit rating agency Fitch has warned that the Chancellor's confession during the Autumn Statement that he missed its debt target could threaten the UK's AAA rating. But George Osborne has downplayed the impact potential if that happened.