Budget 2013

With growth halved, Chancellor Osborne turns to Bank of England for help

Britain's Chancellor of the Exchequer, George Osborne, holds up his budget case for the cameras as he stands outside number 11 Downing Street, before delivering his budget to the House of Commons, in central London March 20, 2013. REUTERS/Stefan Wermuth

Chancellor George Osborne turned to the Bank of England on Wednesday to help galvanise a stagnant economy which he said would grow this year at just half the rate previously expected.  Full Article 

Bank of England's Forbes sees stronger world economy than peers

LONDON - A Bank of England policymaker said on Tuesday she thought the outlook for the global economy might not be as weak as some of her colleagues believe and could be less of a drag on Britain's recovery than the bank has forecast.

11:34am GMT

OECD sees gradual world recovery, urges ECB to do more

PARIS - The global economy will gradually improve over the next two years but Japan will grow less than previously expected while the euro zone struggles with stagnation and an increased deflation risk, the OECD said on Tuesday.

11:20am GMT

UK banks approve fewest mortgages since May 2013

LONDON - British banks approved 37,076 mortgages for house purchase in October, the lowest number since May last year, as the housing market continued to slow, the British Bankers' Association said on Tuesday.

Money Home, Money 9:35am GMT

UK service sector grows steadily in three months to November

LONDON - The services sector that forms the bulk of Britain's economy grew steadily in the three months to November, but companies are growing less optimistic about the outlook, a survey published on Tuesday showed.

7:21am GMT
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Countdown to missed opportunity for EU economy

PARIS - The countdown has begun to what threatens to be a missed opportunity to revive Europe's stalled economy.

24 Nov 2014
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UK retailers look to U.S. Black Friday for Christmas lift-off

LONDON - Next week's "Black Friday", a traditional discount day for U.S. retailers, looks set to be the biggest ever for British shops as more join in the promotional event to kickstart Christmas sales.

21 Nov 2014

UK public finances improve, but remain far off-track

LONDON - Britain's public finances improved slightly in October but Chancellor George Osborne is still unlikely to meet his budget goals before next year's general election.

21 Nov 2014

CBI factory outlook weakens despite November bounceback

LONDON - British manufacturers expect their output in the next three months be its weakest in more than a year even after orders picked up in November, an industry survey showed on Thursday.

20 Nov 2014

UK retail sales rebound, set to counter growth slowdown

LONDON - British retail sales jumped in October, suggesting that shoppers will take the edge off an end-of-year economic slowdown as Europe's weak growth takes its toll on Britain's factories.

20 Nov 2014

Opinion

Felix Salmon

Britain’s fiscal failure

We’re now in a world where the wonkiest columnist in the driest newspaper in Britain is stating his case far more simply and clearly than a populist PR man turned PM.  Commentary 

Edward Hadas

Policy rhetoric flies in the face of reality

When words and actions don’t match up, the problem is usually overly ambitious promises. In the debate on economic policy in the UK, the failure is in the present – the government’s description of fiscal and monetary policy flies in the face of reality.  Commentary 

Peter Gumbel

A devalued pound can’t save the economy

Does devaluation still work? In the era after the financial crisis of 2007-08, there is mounting evidence that devaluation may not be able to help kick-start a stalled economy as readily as it may once have done.  Commentary 

Robert Cole

Homeowner tax switch would help

To tackle debt Osborne needs to protect tax revenue. To maximise revenue, and appease recession-restless voters, he needs to promote economic growth. He could do all three by stamping on the UK’s property transaction tax and closing a crucial loophole.  Commentary 

Kathleen Brooks

In defence of Osborne

You may say that our dreadful growth is the result of a lack of fiscal strategy, but this would be wrong. The trouble is that the economic strategy Osborne has adopted takes a long time to bear fruit and is fairly anti-growth, at least for the first few years.  Commentary 

Laurence Copeland

Budget day cheer is here again

Budget Day again, and the pressure on Chancellor George Osborne is rising ominously. There is little agreement about what needs to be done, but complete agreement that something has to change because the state of Britain’s economy is simply awful.  Commentary 

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