Deficit Reduction
Government deficit yet to benefit from economic upturnThe latest government borrowing figures reveal that spending is rising, outstripping tax receipts in July, a month that normally sees a surplus. |
Spending review: Osborne wields the axe at welfare spendingWelfare was the main target for the cuts as George Osborne presented a further £11.5 billion of savings for 2015-16, as well as public sector employees and government efficiencies. |
UK government borrowing set to rise for third consecutive yearUnderlying government borrowing still went up in May once the one-off receipts of £3.2bn from Swiss tax authorities is stripped out of the figures. |
IMF urges Osborne to slow the pace of austerityAfter a two-week visit the IMF has concluded that the UK economy is still far from a "strong and sustained recovery" but the chancellor George Osborne shows no sign of a change of tack. |
Government borrowing revised down for 2012-13 to £119.5bnThe Office for National Statistics has revised down total government borrowing for the 2012-13 financial year to £119.5 billion from £120.6 billion in a boost for the government. |
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. |
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. |
Fitch questions if UK economy can return to sustainable growthFitch is the second of the three main credit rating agencies to cut the UK's AAA credit rating after Moody's leaving just Standard & Poor's keeping the UK at the top tier. |
S&P warns any deviation from austerity could lead to downgradeRatings agency Standard & Poor's has kept the UK on AAA credit rating but on "negative outlook" in a boost for the Chancellor after last month's budget. |
Budget 2013: How does it affect you?George Osborne has delivered his fourth budget and introduced measures to support the housing market, cut fuel and beer duty and raised the income tax allowance to £10,000. |
Post-budget boost for Osborne as borrowing drops in FebruaryThe latest government borrowing figures show that there was a deficit of just £1.1bn in February, £7bn less than in the same month the year before because of a spending amnesty. |
Budget 2013 Live: Key points at a glanceThe budget as it happens. Follow all the major announcements in the Chancellor's budget as George Osborne presents his fourth budget since the coalition came to power. |
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". |
Sterling and Osborne both under pressure after AAA downgradeThe UK has been stripped of its AAA rating by Moody's for the first time since 1978 as public finances show the Chancellor is likely to miss his deficit reduction target. |
QE receipts help boost January government borrowing figuresGeorge Osborne received some rare good news today as public sector borrowing showed a surplus of £11.4b due to higher tax receipts meaning his target for the year may be achievable. |
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. |
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. |
Trade deficit widens putting AAA rating at riskThe government deficit has widened contrary to George Osborne's claims increasing the likelihood that the UK could have its AAA rating stripped by one of the ratings agencies. |
AAA rating at risk after S&P puts UK on 'negative watch'Standard & Poor's has placed the UK's AAA credit rating on negative outlook, warning that it may downgrade if "fiscal performance weakens beyond current expectations". |
OBR says loss of AAA rating would not raise borrowing costsThe Office for Budget Responsibility head Robert Chote told MPs last week that the loss of the UK's AAA credit rating would not increase the cost of borrowing. |
Pensioners could be targeted in Osborne's next round of cutsDespite the austerity measures of the past few years, more will be needed to balance the government's books and the IFS thinks it will be pensioners who face big cuts next. |
Fitch warns UK could lose triple-A credit ratingOne of the leading ratings agencies, Fitch, has warned that the UK could lose its triple-A credit rating after George Osborne admitted he would miss one of his deficit reduction targets. |
Autumn Statement: Austerity until 2018 as OBR cuts growth forecastThe Office for Budget Responsibility has cut its growth forecast as George Osborne admits that it will take longer to reduce the deficit and that austerity will last until 2018. |
Autumn statement: Key points at a glanceGeorge Osborne has announced his Autumn Statement to parliament today. Described as a mini-budget he says all new spending is being paid for by tax rises or spending cuts. |
The six issues that will define Osborne's Autumn StatementGeorge Osborne will announce his highly anticipated Autumn Statement tomorrow as he tries to find ways to boost the economy without adding to the government debt. |
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