Chancellor warns over complacency

Chancellor of the Exchequer Alistair Darling has said the economy still had a long way to go before recovering.

In a keynote speech to the South Wales Chamber of Commerce in Cardiff, Mr Darling said that continued co-ordinated financial aid from governments across the globe was needed to prevent the current recession sliding into a depression.

However Mr Darling said that with continued government investment the UK economy could see a turning point as soon as the end of the year.