'Crisis economy' UK: You're in as bad a state as eurozone, says new Bank chief as IMF urges Osborne to ditch austerity packageMark Carney compared the UK to basket case countries in the eurozoneThe IMF has slashed its growth forecast for the UK over next two years By Alex Brummer PUBLISHED: 23:15 GMT, 18 April 2013 | UPDATED: 06:33 GMT, 19 April 2013 Warning: Mark Carney, who takes over from Sir Mervyn King in July, compared the UK with basket case countries in the eurozone in a brutal assessment of the economic outlook Britain was last night branded a ‘crisis economy’ by incoming Bank of England governor Mark Carney. The Canadian, who takes over from Sir Mervyn King in July, compared the UK with basket case countries in the eurozone in a brutal assessment of the economic outlook
Millions of families will feel the pinch for two more years as Britain struggles to recover from economic crisis Office for Budget Responsibility said there would be no respite until 2014Chancellor accepted he will miss key debt-cutting target – putting UK's AAA credit rating at risk but Danny Alexander said it wasn't the 'be all and end all' | UPDATED: 00:13 GMT, 6 December 2012 Families were yesterday warned the squeeze on household incomes will continue for two more years as Britain struggles to recover from the economic crisis. The Office for Budget Responsibility said there would be no respite until 2014.
Osborne bashes benefits: Increases capped at just ONE PER CENT for three years after full toll of 'worst economic shock since WW2' is revealed Chancellor uses Autumn Statement to say working age benefits will no longer sie in line with inflation, with 60% of families affected Austerity to last until 2018 with economy forecast to SHRINK this year 2008 economic crash was worse the worst since World War TwoFuel duty rise of 3p planned for 2013 abandonedWealthy see tax break on pensions cut to raise 1billionPerformance-related pay for teachers as 1billion is found for new schoolsTaxman to hit corporations which avoid paying their way50p tax rate meant half of millionaires 'disappeared'But 1million more people are dragged into 40p tax rate in two years Lucrative incentives for fracking industry to come to Britain5billion building bonanza including HS2 extended beyond Birmingham Workers on minimum wage have tax bill 'cut in half' by rise in tax allowance | UPDATED: 18:52 GMT, 5 December 2012 ‘ George Osborne today squeezed the welfare bill, insisting benefits could no longer rise faster that average wages. In a politically-charged Autumn Statement designed to target 'strivers', the Chancellor announced all benefits will rise by just 1 per cent for the next three years, which will mean a real terms cut.
Mr Osborne is right to stick to his guns | UPDATED: 00:04 GMT, 6 December 2012 To give George Osborne his due, he has never for one moment lost sight of the vital task entrusted to him: giving our children and grandchildren some hope of a decent life by bringing the biggest deficit in history under control. Indeed, it is a tribute to his courage that he has pressed forward doggedly towards that goal through some of the toughest economic conditions faced by any peacetime Chancellor
How PM's 5bn jobs scheme CUT the number finding work: More people would have found employment if ministers had done nothing The Work Programme pays companies and charities if they get long-term unemployed into a jobOfficials thought 5% of people would find work on their own – more than the 3.5% helped by the scheme200,000 have been found some work but many last just a few weeks before going back on benefits | UPDATED: 08:14 GMT, 28 November 2012 Data for the first 12 months of the Work Programme showed the 5billion initiative secured lasting employment for just one in every 50 people referred, at a cost of 14,000 a job. The scheme – personally championed by the Prime Minister – pays private sector firms such as A4e and G4S to find jobs for the long-term unemployed.