1. 15 updates

Trust in Osborne at record low

Public trust in the Chancellor is at its lowest since polling on the issue for the ITV News Index by ComRes began in October 2010. Only 16% of voters questioned had faith in him. It comes as public sector net borrowing increased by £600m in July

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16% of voters trust Chancellor to see Britain through economic situation

Only 16% of the British public appear to trust the Chancellor George Osborne to see the country through the current economic situation, according to the ITV News Index Poll carried out by ComRes.

Only 16% of the British public appear to trust the Chancellor to see the country through the current economic situation.

The survey found 62% of the 2,060 adults interviewed do not trust Mr Osborne to see the country through the current economic climate, while 22% did not know.

It is the worst trust score for Mr Osborne since October 2010 when the poll first started asking the public for their opinion on the subject.

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Slightly greater voter faith in Labour to sort the economy

Voters have greater faith in Ed Miliband and Ed Balls to handle the economy, according to the latest ITV News Index poll Credit: PA Wire

Voters appear to have slightly greater faith in Labour to see Britain through the current economic situation, according to the ITV News Index carried out by ComRes.

21% have faith in leader Ed Miliband, up 2% from last month - but on the same level as October 2010.

That compares to 17% for shadow chancellor Ed Balls, up one percentage point from July. He was on 14% when he took over from Alan Johnson in January 2011.

But 57% of voters do not have faith in Mr Miliband to deal with the economy, down 3% on last month. 59% of those questioned felt similarly about Mr Balls.

Click here to read what they thought about David Cameron and Nick Clegg.

Half of voters 'do not trust' PM to see Britain through economic situation

Half (53%) of the British public do not trust the Prime Minister to see the country through the current economic situation, while 31% do trust him and 16% do not know, according to the ITV News Index Poll carried out by ComRes.

Two-thirds (67%) of the population do not trust the Deputy Prime Minister to see the country through the current economic climate, while 15% do trust him and 18% do not know, the poll found.

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Osborne trust ratings at record low

Chancellor George Osborne. Credit: PA Wire

Only 16% of the British public trust the Chancellor George Osborne to see the country through the current economic situation, according to the ITV News Index Poll carried out by ComRes.

The survey found 62% of the 2,060 adults interviewed do not trust Mr Osborne to see the country through the current economic climate, while 22% did not know.

It is the worst trust score for Mr Osborne since October 2010 when the poll first started asking the public for their opinion on the subject.

Treasury Minister rejects Labour's public sector borrowing claims

Treasury Minister Chloe Smith has rejected Labour's call for the Government to re-think its strategy over public sector net borrowing.

The Conservative MP told the BBC that "there is no opportunity" to sustain the current level of borrowing.

Their strategy would be to borrow more and to spend more and we cannot take that kind of decision in these circumstances.There is no opportunity here to set out to deliberately borrow more. What these figures really show is the importance of sticking to the plan that has won Britain international credibility.

– Treasury Minister Chloe Smith

Labour: 'Osborne risks long-term damage to our economy'

Rachel Reeves MP, Labour’s Shadow Chief Secretary to the Treasury, responding to today’s public sector finance figures, said:

This is a damning indictment of a Chancellor who promised to secure the recovery and get the deficit down.

His failed plan has delivered the exact opposite - a double dip recession which is leading to soaring borrowing. What more evidence does the Government need that their plan has failed and they need to change course?

George Osborne’s decision to raise taxes and cut spending too far and too fast has choked off the recovery and as a result the Government’s pledge to balance the books by 2015 is now in tatters.

Unless the Chancellor takes urgent action now he will end up not only borrowing billions more to pay for economic failure but he risks causing long-term damage to our economy too.

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