Treasury minister upbeat about UK borrowing figures

The economic secretary to the Treasury Sajid Javid insists the coalition is on course to meet its deficit reduction targets.

New figures show borrowing fell by £0.3bn in the last financial year to £120.6b - a cut of a quarter of 1%.

Labour said the rate at which the government is reducing the deficit means it will take 400 years to balance the books.

However, Mr Javid said, "We've cut it by a third... We're on target".