Bank of England to warn living costs 'will keep soaring for two years' rounded off the worst four years for Britain’s economy, outside the aftermath of war, since the 1830s – leaving the UK on the brink of triple-dip recession. ‘The UK is set for a slow but sustained recovery,’ the Bank said last week. Sir Mervyn has said the economy will ‘zig-zag’ in and out of growth for some time, a warning he may repeat on Wednesday.
Ditch austerity Boris tells Osborne amid fears the economy is heading towards a trip dip recession Office for National Statistics announces negative growth for final quarter of last yearResults mean there was no growth overall for the whole of 2012 Nick Clegg admits government was wrong to cut funding for big building projects, damaging jobs and growth Boris Johnson says it is time to 'junk the rhetoric of austerity'IMF chief economist says the Chancellor should use the Budget in March to 'take stock' and change courseExperts warn of longest depression in living memory , which meant there was no growth overall last year” class=”blkBorder” /> The Office for National Statistics said the economy shrank by 0.3 per cent in the last three months of 2012, which meant there was no growth overall last year Construction grew by 0.3 per cent, but not enough to make up for sharp drops in the last year In a very public challenge to mainstream Conservative policy, London mayor Mr Johnson warned that the ‘hair-shirt’ agenda set by the Chancellor and gloomy remarks from the Bank of England threaten hopes of a recovery. And in a sign of coalition tensions over the flatlining economy, Nick Clegg made clear the Liberal Democrats will demand higher capital spending on infrastructure projects in the next public spending review – a shot across Mr Osborne’s bows. IMF chief economist Olivier Blanchard said the Budget in March would be a good time to slow the pace of austerity The slump rounded off the worst four-year period for the British economy, excluding the aftermath of war, since the 1830s.
Three daughters of mother killed during Cardiff hit-and-run rampage will open Christmas gifts 'from mum' Karina Menzies died in a 30 minute hit-and-run rampage in OctoberMatthew Tvrdon, 31, from Cardiff, charged with the murder within a dayGirls, aged 11, eight and two, will unwrap the last gifts left by motherSister says they are 'the last thing she will ever be able to give them' | UPDATED: 21:20 GMT, 24 December 2012 Three girls left motherless after a hit-and-run rampage that brought hysteria to a city's streets will open festive gifts labelled 'from mum,' tomorrow. Karina Menzies, 31, was killed during 30 minutes of terrifying carnage in the Ely and Leckwith areas of Cardiff, south Wales, in October.