Trade poses biggest drag on UK growth on record


LONDON Foreign trade put the biggest drag on record on British economic growth last quarter, as a weakening global economy and surging demand for imports slowed Britain's recovery from the financial crisis, data showed on Friday.

Fitch says Osborne's budget target offers UK little flexibility 27 Nov 2015

LONDON Credit ratings agency Fitch said on Friday that Chancellor George Osborne's goal of reaching a budget surplus within four years gave little scope to respond to even a modest downturn in the economy.


Black Friday focus goes online as Britons hunt bargains 27 Nov 2015

LONDON Britons chased "Black Friday" shopping bargains on Friday with initial signs that many were going online rather than heading to stores for an event imported from the United States.


UK house price growth slows in November 27 Nov 2015

LONDON British house price growth slowed this month, according to a survey published on Friday which suggested the recovery in the housing market, which recently pushed prices to new record highs, is advancing at a modest pace.

UK consumer confidence slips to six-month low 27 Nov 2015

LONDON British consumer morale has slipped to its lowest level in six months and growth among services companies cooled, according to two surveys that suggested to a further moderation of economic growth.


UK public-spending plan has 50-50 chance of success -think tank 26 Nov 2015

LONDON Chancellor George Osborne's latest spending plans have a roughly 50 percent chance of success, the head of Britain's non-partisan Institute for Fiscal Studies (IFS) think tank said on Thursday.


Osborne's U-turn on tax credits unlikely to hurt UK welfare push 26 Nov 2015

LONDON Chancellor George Osborne's U-turn decision not to cut state support for low-income workers will provide short-term relief for many households across Britain, but is unlikely to dent his broader attempt to rein in welfare spending.

UK to cut government department spending by 12 billion pounds by 2020 26 Nov 2015

LONDON Britain will make 12 billion pounds of savings annually from government departments' day-to-day spending by the end of the decade as it seeks to return to a budget surplus, Chancellor George Osborne said on Wednesday.

Moody's says Osborne's latest spending plans do not change its view on UK finances 26 Nov 2015

LONDON Moody's ratings agency said Britain's latest government spending plans, announced by Chancellor George Osborne earlier on Wednesday, do not change its outlook for the country's public finances.

Factbox: Key announcements in budget update from Osborne 26 Nov 2015

LONDON Chancellor George Osborne delivered a half-yearly budget update on Wednesday, slightly raising his budget surplus target for the end of the decade while scrapping a controversial plan to make big savings in one part of the welfare budget.

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