Chancellor: 'Debt fuelled growth got us into this mess'

The Chancellor said the Government had embarked on the "biggest infrastructure programme for a generation".

Asked why projects could not be brought forward to aid growth in the economy now, George Osborne told ITV News: "I'm absolutely for doing everything we can, as a Government, to support construction through infrastructure, through our help-to-buy scheme to help families get their first home.

"But I'm also clear that as a country we have to do that in a way that convinces the world that we can pay our way. You can't have the debt fuelled problems, the debt fuelled growth, that got Britain into this mess in the first place."