The Bank of England says the future of the UK economy looks bleak, with a recession guaranteed and half a million jobs likely to be lost. Amidst the doom and gloom, we ask University of Cambridge economist Diane Coyle what the government could do now to improve the situation. Former Chief Secretary to the Treasury, Danny Alexander, now at the Asian Infrastructure Investment Bank, tells us that austerity will be tougher now than in 2010. Plus: no pre-Christmas election in Northern Ireland. Bloomberg's Stephen Carroll and Yuan Potts get reaction from Alliance Party deputy leader, Stephen Farry.