UK economy faces 'dangerous cocktail' of risks, Osborne warns

British Chancellor George Osborne warned on Thursday that the economy faced a "dangerous cocktail" of threats from abroad and he urged against complacency after two years of solid growth.

Osborne said in a new year's message that Britain faced headwinds from slower growth in China, Brazil and Russia, tension in the Middle East and stock market falls.

“Far from mission accomplished on the economy, 2016 is the year of mission-critical,” the chancellor told BBC Radio 4’s “Today” program, explaining what he’ll tell business leaders in Cardiff, Wales.

“The difficult times aren’t over; we’ve got to go on making the difficult decisions precisely so that Britain can continue to enjoy the low unemployment and the rising wages that we see at the moment,” he added.