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Autumn Statement: Osborne says UK is on 'right track'

5 December 2012 Last updated at 13:10 GMT

The chancellor has claimed Britain is "on the right track and turning back now would be a disaster" as he opened his Autumn Statement, adding there was "much more to do".

George Osborne said the UK had moved from a danger zone two years ago, but was now a "safe heaven", able to borrow money at the lowest interest rates in history.

He told the House of Commons that the government was "on the side of those who want to work hard and get on", as he started to reveal changes to tax and spending plans.

BBC Autumn Statement coverage