George Osborne: Deficit cut is taking longer than planned

Chancellor George Osborne has admitted that curbing the UK's financial deficit is "taking longer" than planned.

But he told the BBC the government was "making progress" and that to "turn back now would be a complete disaster".
Mr Osborne, who delivers his Autumn Statement on Wednesday, said well-off people would "pay their fair share".
Shadow chancellor Ed Balls said Mr Osborne's judgement had been "woefully lacking" and more investment was needed to promote economic growth.
The coalition has set a target of reducing debt as a share of national income by the next general election, due in 2015.
UK public sector net borrowing, excluding financial interventions, hit £8.6bn in October, according to the Office for National Statistics (ONS), marking a rise from the £5.9bn borrowed in October 2011.
But last week the ONS confirmed that the UK's economy had grown by 1% during the third quarter of this year, following a recession lasting nine months.
'Pay our way' Mr Osborne refused to divulge any details of the economic forecasts from the independent Office for Budget Responsibility, which will be unveiled during Wednesday's statement.