The economy

Forthcoming austerity measures hit consumer confidence

Concerns over the likely impact of government spending cuts are having an adverse effect on consumer confidence, a new report has revealed.

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Spend not save to help the economy

Consumers should look to spend rather than save, the deputy governor of the Bank of England has said.

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Austerity cuts will dampen growth

Planned cuts in public spending, intended to tackle the UK’s largest peacetime budget deficit, will slow the economic recovery next year, the CBI has predicted in its latest forecasts.

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Banking sector needs more competition

The Federation of Small Businesses (FSB) has urged the government to take action to introduce more competition into the banking system.

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Small firms still feeling the squeeze on credit

Business lending shrank for the fifth month running, a new report from the Bank of England has revealed.

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Spending cuts must not hinder growth, says CBI

The government must ensure that the spending cuts to be announced in the forthcoming comprehensive spending review do not put the brakes on economic growth, the CBI has argued.

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EC forecasts stronger UK growth but warns on VAT rise

The European Commission has revised upwards its predictions for economic growth in the EU, but has suggested that the UK’s recovery may be hampered by the decision to increase VAT.

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Jobs recovery shows signs of slowing

Job appointments increased at their slowest rate in almost a year last month, new figures have revealed.

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Local enterprise partnerships must have weight to be effective

Concerns have been raised that the proposed new local enterprise partnerships (LEPs) may be too small to carry enough influence.

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UK debt needs long-term fiscal reform

The UK’s debt compared with gross domestic product could almost double from its 2007 levels by 2015, the International Monetary Fund (IMF) has said.

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