Page last updated at 15:39 GMT, Wednesday, 30 November 2011

Labour: Government gamble choked off growth

The government "took a gamble" to cut as far and fast as they did, which has led to slowdown in growth, the shadow chief secretary to the treasury has said.

Labour's Rachel Reeves told Newsnight's Jeremy Paxman that her party had a "balanced plan" for deficit reduction and growth.

In his Autumn Statement to MPs on Tuesday, the chancellor said the Office for Budget Responsibility (OBR) was now forecasting that the UK economy would grow by 0.9% this year - compared with 1.7% forecast in March - and 0.7% next year, down from 2.5%.

Broadcast on Tuesday 29 November 2011.

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