George Osborne tells MPs "Britain's economic plan is working but the job is not done" as he opens his Autumn Statement.
Mr Osborne says that: "We need a government that lives to its means within the world".
The Chancellor says that the deficit is down but more must be done and he says that unemployment is down but young people are not trained to do jobs.
There is, he says, more to be done.
But he delivered good news for the economy, saying Britain is now growing faster than any other major economy.
He said: "At the time of the Budget in March, the OBR forecast that growth this year would be 0.6 per cent.
"Today, they more than double that forecast – and estimate growth will be 1.4 per cent.
"Next year, instead of growth of 1.8 per cent, they are now forecasting 2.4 per cent.
"With faster growth now, it means they've revised the following four years to 2.2 per cent, 2.6 per cent 2.7 per cent and 2.7 per cent."
But he said that the Office for National Statistics has reassessed the depth of the great recession between 2008 and 2009 and £112bn had been wiped off our economy "around £3,000 for every household in this country".
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