Angela Eagle MP, Labour's Shadow Chief Secretary to the Treasury, said in response to George Osborne's interview on the Andrew Marr Show:
"George Osborne's claim to have mounted a 'rescue mission' of the British economy shows just how out of touch he is with what's happening in the real world.
"His reckless plan to cut too deep and too fast has taken a growing economy with falling unemployment and delivered an economy which shrank at the end of last year, a 17 year high in unemployment and rising inflation.
"George Osborne needs to snap out of his denial and rethink the speed and scale of cuts and tax rises which are hitting families hard in the pocket and derailing our economic recovery.
"There need to be tough decisions, but you can't get deficit down if the economy doesn't grow strongly this year and there are fewer people in work making a contribution. George Osborne needs to think again and get a plan B that puts jobs and growth first, before it's too late."