Austerity
Osborne holds firm on austerity amid economic growth signalsThe Chancellor, George Osborne told business leaders at the CBI dinner to stay the course on austerity as the economy shows signs of a sustained recovery. |
TUC puts the case against austerity as the IMF arrives in UKThe International Monetary Fund has arrived in the UK for the start of its annual assessment of the UK economy as the TUC warns the UK is in the middle of a lost decade for the economy. |
Goldman Sachs boss says Osborne must stay the course on austerityGoldman Sachs boss Lloyd Blankfein says that George Osborne must stay the course on austerity and not ease up unless the deficit is falling. |
IMF says UK must slow austerity as Fitch cuts AAA ratingMark Carney, says the UK is a "crisis economy" as it struggles to emerge from the global recession and the IMF says George Osborne needs to change tack. |
Cameron: UK must cut "further and faster" but no word on growthThe Prime Minister, David Cameron, defended the government's economic record in parliament today and said the UK must cut "further and faster". |
OECD advises Osborne to tone down austerity and be flexibleThe Bank of England's Monetary Policy Committee meets tomorrow but despite a contracting economy and the advice of the OECd, there is not expected to be any change in QE or Base rate. |
IFS says Osborne will exceed borrowing target by £64 billionThe Institute of Fiscal Studies warns that unless the Chancellor cuts more public sector jobs he is on course to borrow £64 billion more than estimated by 2015. |
700,000 working people face council tax increaseFrom April 1st, up to 3.2 million working age people face paying between £96 and £555 in Council Tax after benefit changes are introduced. |
Osborne flies back from Davos into parliamentary bear pitGeorge Osborne has rejected calls from IMF Chief Economist Olivier Blanchard to change tack in the March budget and focus more on growth than austerity measures. |
Osborne needs to shift emphasis from austerity, says IMF chiefThe Chief Economist at the International Monetary Fund, Oliver Blanchard says that George Osborne should use the budget in March to change tack from austerity to growth. |
UK AAA rating under threat as government deficit increasesThe Chancellor, George Osborne, is set to miss his deficit reduction target for the 2012-13 tax year of £120bn as the deficit increased in December, rising to £106.5 bn. |
IPPR: Economic uncertainty could make 2013 a "groundhog year"The Institute for Public Policy Research has published a bleak prognosis for the UK economy in 2013 warning that it could be a "groundhog year" as the economy struggles. |
Osborne set to miss target as IFS predicts austerity until 2018The Institute for Fiscal Studies has warned the government that an increase in borrowing could mean the Chancellor has to find an extra £11 billion in savings. |
Kate Barker, ex MPC member, says more QE may be ineffectiveA leading economist and former Bank of England rate-setter, Kate Barker, says the Bank should change its inflation forecast and that the government shift from its austerity focus. |
George Osborne's nine wise men turn on government policyNine of the 20 eminent economists who supported George Osborne's deficit reduction plan in 2010 have changed their mind and think the pace of cuts should be slowed. |
Rise in public sector borrowing in June is a blow to OsborneThe Government borrowed more than expected in June as the double-dip recession continued to be a strain on the public purse, official figures show. |
Dismal summer weather pours misery on retailersAusterity Britain’s high streets have been hit with a double whammy this summer – cash-strapped consumers and disastrous weather. |
'Outlook has improved' on UK debt, says OBRThe Office for Budget Responsibility says that the "outlook has improved" on the UK public finances, though an extra £65 billion of cuts are needed to keep net debt at 40% of GDP. |
Spanish PM Rajoy raises VAT by 3% as more cuts announcedThe Spanish Prime Minister, Mariano Rajoy, has announced that he will raise VAT from 18 to 21 per cent and make further cuts as he tries to lower Spanish debt levels. |
Austerity Britain punishing middle income householdsThe middle fifth of UK households saw their incomes slashed by £1,100 to £24,400 in the year to April, an official report has revealed. |
Public sector deficit widens in May as tax receipts slumpGovernment borrowing increased in May as tax receipts fell by 7.3 per cent and current costs increased suggesting the Chancellor is having difficulty in imposing cuts. |
Is austerity Britain's bubble about to burst?Aviva Family Finances report reveals that 70% of people want the government to change tack from austerity to promoting growth and in the past year savings and income has risen but so has debt. |
Plunging sales and soaring bonds push Spain closer to bailoutSpain appeared to be moving closer to a bailout yesterday as borrowing costs kept on climbing and retail sales plummeted. |
IMF's Lagarde says no relaxing of IMF terms on Greek bailoutThe head of the International Monetary Fund (IMF), Christine Lagarde has warned the Greek people that they must "help themselves", pay more taxes and pay for the good times. |
G8 summit ends with pledge for eurozone focus on jobs and growthThe G8 summit has ended with US President Obama urging the eurozone to focus on jobs and growth. |
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