'Coin-toss chancellor' Osborne's 50/50 chance of meeting budget target

Shadow chancellor highlights downgrading by official economists of likelihood of budget being in surplus by end of parliament

George Osborne has been described by his Labour counterpart as the "coin-toss chancellor" after official figures indicated that prospects for the success of plans to make spending targets have been downgraded.

Figures in last month's autumn statement suggest the chancellor now has a 50/50 chance of getting the budget into surplus as promised by the end of the parliament.