- 59 updates
David Cameron agrees with George Osborne that some of the coverage of the Autumn Statement was over the top and "hyperbolic".
Mr Osborne this morning complained about a BBC report that said spending cuts would return the UK to the days of The Road to Wigan Pier, George Orwell's seminal 1930s account of working class hardship in northern England.
The Prime Minister's spokesman said Mr Cameron agreed that the comparison was not helpful, saying:
Shadow Chancellor Ed Balls has insisted Labour will cut spending to help get rid of the budget deficit, but will do so in a fairer way than the Conservatives.
He told ITV News:
The scale of the Conservatives' planned spending cuts after 2015 would mean the role of the state would change "beyond recognition", the head of the Institute for Fiscal Studies has said.
The IFS said £35 billion of the cuts in spending by Whitehall departments have already happened, with £55 billion yet to come.
If reductions in departmental spending were to continue at the same pace after the May 2015 election as they have over the past four years, welfare cuts or tax rises worth about £21 billion a year would be needed by 2019/20 - at a time when Conservatives are committed to income tax cuts worth £7 billion - said IFS director Paul Johnson.
Mr Johnson said voters would be justified in asking whether George Osborne was planning "a fundamental reimagining of the role of the state".
An online calculator to work out how the new Stamp Duty system will affect homebuyers has been used 500,000 times in the last 24 hours, Treasury Minister David Gauke has announced.
The Business Secretary has said that taxes must rise to help cut the deficit, whoever is in government after 2015.
Vince Cable claimed the Conservatives' plans to reduce the deficit primarily through spending cuts were "implausible".
George Osborne's Autumn Statement will mean "spending cuts on a colossal scale" after next year's general election, the Institute for Fiscal Studies has said.
ITV News Economic Editor Richard Edgar is at the IFS Autumn Statement briefing.
Nick Clegg has attacked the Conservatives' post-2015 spending plans, saying it is "undeliverable" to expect the working poor to shoulder the burden of deficit reduction.
The Deputy Prime Minister said planned spending cuts were "achievable", but that the wealthy should be made to contribute more to deficit reduction.
George Osborne has hit out at warnings about the impact of a fresh round of government spending cuts on public services, branding them "nonsense".
The Chancellor condemned "hyperbolic" coverage of the UK's fiscal outlook and insisted the Tories would set the UK on "a course to prosperity".
He launched into Radio 4 presenter John Humphrys on the Today programme, saying:
Nick Clegg has dismissed suggestions that he did not turn up to the Autumn Statement because he wanted to distance himself from George Osborne's policies.
Shadow Chancellor Ed Balls had said Mr Clegg had been absent because he hoped "people forget the fact that he voted for the VAT rise and the 'bedroom tax'."
But Mr Clegg roundly rejected the claim, telling listeners on his LBC radio phone-in.
Latest ITV News reports
The Chancellor must tell voters whether what he's proposing is really a re-think of the role of the state.
For all the criticism of spending reductions under the Coalition, there are actually more cuts to come after 2015.