Lord Young resigns over recession remarks

The Conservative peer Lord Young has resigned as an adviser to the Government in the wake of his controversial remarks about the recession.

The Tory peer told a newspaper that the vast majority of "people had never had it so good" because of low interest rates.

Lord Young worked as an enterprise adviser from a desk in Number 10 Downing Street.

Speaking before his resignation the Prime Minister David Cameron said that his remarks were "unacceptable".

Labour Leader Ed Miliband said people would be insulted by Lord Young's comments.

Iain Watson reports.

BBC News