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Montevideo, June 21st 2024 - 11:56 UTC

Tag: Ed Balls

  • Thursday, January 29th 2015 - 07:55 UTC

    UK economy expanded 2.6% in 2014, the fastest since 2007

    Chancellor George Osborne said figures showed the economy was “on track”, but warned the international economic climate was “getting worse”

    The UK's economy grew by 2.6% last year, the fastest pace since 2007 and up from 1.7% in 2013, official figures have from the Office of National Statistics, ONS, have shown. The economy expanded 0.5% in the last quarter of 2014, which was a slowdown from the 0.7% of the previous three months.

  • Saturday, April 20th 2013 - 08:56 UTC

    Fitch trims UK top credit rating on weaker economy and fiscal outlook

    Labour Balls: ‘another humiliating blow for the Prime Minister and the Chancellor’

    Britain's credit standing took a further blow when Fitch Ratings became the second major international agency to strip the country of its top-notch credit rating. The move is an embarrassment for the Conservative-led government which promised to protect the country's rating when it took power in 2010, and will heighten the debate about whether austerity is still the right approach.

  • Sunday, March 10th 2013 - 11:38 UTC

    PM Cameron fumble turns austerity and budget cuts policy into a national debate

    OBR Robert Chote said “there is widely held assumption that tax increases and spending cuts reduce economic growth”

    Prime Minister David Cameron was reprimanded by a budget watchdog for claiming that it did not see his austerity agenda as a drag on Britain's economy. In a speech on Thursday, Cameron said his deficit-cutting agenda was not responsible for the country's depressed growth rate which was instead caused by the financial crisis, the Euro zone's problems and higher oil prices - a view he said was endorsed by the independent watchdog.