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."
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?
The cap on benefits rises will mean a cut in real terms for people living on welfare and those on low incomes, as Penny Marshall finds out.