The UK faces serious threats from a slowing global economy, warns Chancellor George Osborne

The UK faces a "cocktail" of serious threats from a slowing global economy as 2016 begins, Chancellor George Osborne has warned.

He told the Today programme that far from "mission accomplished" on the economy, "2016 is the year of mission critical".

His message is in stark contrast to the positive tone of his Autumn Statement, when he said the UK was "growing fast".

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