George Osborne makes Autumn Statement

The video discusses the fiscal challenges faced by Chancellor George Osborne, focusing on his two main targets: eliminating the structural deficit and reducing national debt as a percentage of GDP by 2015-16. The potential failure to meet these targets could lead to increased austerity measures affecting households and businesses. The economic outlook remains bleak, with disappointing growth figures and slower-than-expected tax receipts, necessitating further austerity. The video highlights the broader implications of these fiscal policies on society.

How does the current economic outlook compare to previous years according to the text?

What challenges does George Osborne face in meeting his fiscal targets?