Video: George Osborne questioned by Treasury Committee This live stream has now finished. Follow our business live blog here. The Chancellor said critics of his austerity programme had been "proved comprehensively wrong" when he delivered his assessment of the economy last week. Last Thursday, he used his speech to unveil more optimistic forecasts for economic growth and the deficit, telling MPs: "Our economic plan is working." Experts have warned that growth is being fuelled by consumer spending rather than a business boom and have also warned that Mr Osborne could have difficulty making his sums add up following close scrutiny of the measures that were set out.