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“Today I think is going to be the period in which [the Chancellor's] philosophy is blown out of the water”

Business quote of the day.

A view to a Treasury. Photograph: Getty Images

“Today I think is going to be the period in which [the Chancellor's] philosophy is blown out of the water”

Chris Leslie, one of Labour's shadow Treasury ministers, tells ITV Daybreak that the chancellor is entering a period of reckoning on his ability to lead the country’s fiscal recovery. Ahead of the Autumn Statement today, George Osborne has said there is no “miracle cure” for the UK’s economic problems after missing his own targets on reducing the national debt and deficit.