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Osborne warns 2014 will be 'a year of hard truths'

6 January 2014 Last updated at 11:04 GMT

Britain's economy is "on the rise" but much more needs to be done and 2014 will be a "year of hard truths", Chancellor George Osborne has warned.

Speaking in Birmingham, Mr Osborne also suggested that a further £25bn spending cuts would be needed after the next election in order to tackle the deficit.