Dec 5 2012 By Cheryl Mullin
GEORGE Osborne will warn there are no “miracle cures” for Britain’s problems today as he admits more drastic action is needed to balance the Government’s books.
In a bleak mini-budget, the Chancellor is to confirm that Whitehall departments are being ordered to find further cuts to fund £5 billion of “shovel ready” projects designed to kick-start the economy.
He is also widely expected to concede that sluggish growth means it will take longer to tackle the deficit and a key coalition target to have public sector debt falling by 2015-16 may be missed.
Follow our live blog from 11am, as the chancellor prepares to deliver his Autumn Statement.