Office For Budget Responsibility News
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Britain’s Labour opposition sought to boost its standing on the economy by pledging to end benefits for wealthy pensioners as part of a “tough” program to reduce the budget deficit if it wins the 2015 general election.
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Britain’s underlying budget deficit widened in April, dealing a blow to Chancellor of the Exchequer George Osborne as the International Monetary Fund prepares to deliver its verdict on the U.K. economy.
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Bank of England Governor Mervyn King said the debate on fiscal policy has “really got overblown” and the government’s plan to aid home buyers shouldn’t become permanent.
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Prime Minister David Cameron marks the third anniversary of his coalition government tomorrow and the U.K. economy is only starting to gather momentum.
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Britain’s budget deficit narrowed more than economists forecast in March as capital spending fell, providing a boost for Chancellor of the Exchequer George Osborne as he faces new questions over his economic management.
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The politicians seeking independence for Scotland say the North Sea oil industry is on the cusp of another boom. Their price estimate makes them among the most bullish forecasters.
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Chancellor of the Exchequer George Osborne won a round in his defense of austerity yesterday as Britain escaped a triple-dip recession.
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Britons’ disposable income fell in the fourth quarter, underlining the pressure on consumer spending as the economy stands on the brink of another recession.
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Britons’ disposable income fell in the fourth quarter, underlining the pressure on consumers as the economy teeters on the brink of an unprecedented triple-dip recession.
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Britain lost its top credit grade at Fitch Ratings, which cited a weaker economic and fiscal outlook as it became the second company to cut the country’s rating within two months.
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