Osborne: 'I Could Have Done More' For Economy

By Sarah Hewson, Sky News Presenter

George Osborne has admitted he wishes he had done more to help Britain's economy when the coalition came to power.

Speaking to Sky News, the Chancellor of the Exchequer expressed regret his attempts to reform the economy had not gone far enough.

The Chancellor fielded questions from the readers of First News

Mr Osborne did not specify what further action he would have liked to have taken but he is now likely to face questions over which other policies he might have pursued or which reforms he would have taken further.

On assuming power the coalition embarked on the biggest austerity drive for more than 50 years as it attempted to repair the nation's finances.

But the Chancellor faced several years of criticism as the economy struggled to recover from the recession.

Asked what his biggest regret of his time in office has been, he said: "When you get into office that's your opportunity to take some really big decisions.

"And we did take some big decisions because then you've got a few years to see them played out.

"But actually I look back and think there's even more we could have done to fix some of the economic problems and I want to go on therefore taking decisions that will help create jobs.

"If anything, it's like I wish we'd done even more."

Mr Osborne made his comments in response to a question from one of a panel of readers of First News - the UK's national newspaper for young people - and students from Sky Academy - an initiative that is giving up to one million opportunities to young people.

During the interview - the first in a series called Hot Seat, where prominent men and women will face questions from young people - Mr Osborne defended the rowdy atmosphere at Prime Minister's Questions, arguing it demonstrates "passion".

The children also challenged Mr Osborne over Prime Minister's questions

But inquisitor Jessica Trueman, 12, from Buckinghamshire retorted, saying: "I think it is good for adults, but not so good for the children watching it because they might think it is ok to shout."

Mr Osborne told the children he saved up as a youngster for a Scalextric set and claimed to spend his time running listening to Happy singer Pharrell Williams on his iPod.

However, he avoided being tested on his times-tables when the youngest of the panel, seven-year-old Sam Raddings, asked Mr Osborne what seven times eight is.

"I've made it a rule in life not to answer a whole load of maths questions," came the swift response from Mr Osborne.

The Chancellor had been invited to give the children an "exclusive" story. If you want the scoop on a hamster on the loose in Downing Street, watch the video.

There will be more to come from the Hot Seat series in the run up to next year's General Election.

Let us know who you would most like to hear from and look out for details on how you can get involved on Sky News and in First News.

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