In the Fittie Bar next to Aberdeen’s industrial harbor, where North Sea oil workers come to drink between stints offshore, the debate over Scottish independence is raging.
U.K. government bonds posted a weekly decline, with the 10-year yield rising the most in three months, as signs the recovery is strengthening damped demand for fixed- income securities.
The U.K. Treasury was too optimistic about economic growth under the previous Labour government and forecasting errors were magnified during the financial crisis, a research group said.
The fight over Scotland’s future escalated as the U.K. government and nationalists grappled over the cost of setting up an independent state and traded accusations of myths and bogus statistics.
Chancellor of the Exchequer George Osborne said the U.K. economy will grow more than previously forecast and announced help for savers and pensioners as he set out his penultimate budget before the 2015 election.
U.K. Chancellor of the Exchequer George Osborne achieved his deficit-reduction forecast in the latest fiscal year after stronger-than-expected growth boosted tax receipts.
The chairman of the U.K.’s Office for Budget Responsibility, Alan Budd, denied that he came under pressure from ministers to publish data on jobs in the public sector.