At a glance: George Osborne's speech

13 years of Labour government left British economy on the brink of bankruptcy Growth of economy is reliant on getting a grip on government spending Britain had one of the largest deficits among western economies yet the previous government still had no plan to deal with it Spending Review will put country on a sustainable path for years to come Greece, Ireland and Portugal show economic dangers have not yet passed Following Ed Miliband's plan of cancelling deficit plan would lead to market turmoil, loss of confidence and credit downgrade £109bn a year structural deficit is like...