Scrap flight tax to boost economy, say airlines

Abolition of air passenger duty would create around 60,000 jobs according to British Airways commissioned report UK-based airlines have launched a renewed attack on air passenger duty with a report that claims the UK economy would be boosted by £16bn a year if the tax was scrapped. Commissioned by four British airlines including British Airways, […]


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Autumn statement 2012: austerity will last until 2018, admits George Osborne

Office for Budget Responsibility expects a contraction in GDP of 0.1% this year and growth of 1.2% in 2013 George Osborne was forced to admit that the grim outlook for economic growth means he has broken one of his two self-imposed fiscal rules and the Tories will go to the polls in 2015 promising another […]


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Autumn statement 2012: economy weaker than expected, Osborne says

Chancellor says the Office for Budget Responsibility now forecasts a contraction of 0.1% in 2012 but insists that the ‘British economy is healing’ George Osborne has insisted the British economy is “on track” – despite warning that he now plans to extend austerity measures until 2017-18, deep into the next parliament, as weaker-than-expected growth hits […]


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Autumn statement 2012: key points

The crucial economic announcements made by chancellor George Osborne in his autumn statement to the Commons Here are the crucial economic announcements made by chancellor George Osborne today in his autumn statement to the Commons. Hit refresh to update the page as the statement continues. Growth • Office for Budget Responsibility adjusts growth forecast downwards to […]


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Autumn statement: growth and NHS figures jolt George Osborne

Gloomy deficit and growth forecasts as health secretary Jeremy Hunt rebuked over spending claims George Osborne is facing politically damaging charges that he is reducing NHS spending in England, and failing to cut the deficit this year, the opposite of the Conservatives’ central pledge of the 2010 election campaign. Ahead of Wednesday’s autumn statement, in […]


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Wall Street manipulates deficit angst with fiscal cliff fear | Dean Baker

Deficit hawks rely on media allies to report budget doom to advance their agenda of cutting Medicare and social security Many of the nation’s most important news outlets openly embrace the agenda of the rich and powerful that colors its coverage of major economic issues. This is perhaps nowhere better demonstrated than during the current […]


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Osborne’s autumn statement means a bad year for him is about to get worse

The economy is still flatlining, GDP is below where it was in 2008 and the chancellor has had to water down his austerity plans Booed at the Olympics. Author of the worst received budget in memory. In charge when the economy plunged into its first double-dip recession since the 1970s. It has been a year […]


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UK GDP since 1955

Gross domestic product is the economic output of Britain. See how it has changed over time• Get the data Britain’s households increased their spending at the fastest in more than two years during the three-month period that included the Olympic Games, helping the economy to expand by 1%. Britain has emerged from double-dip recession. The […]


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For Britain, the EU is good value for money | Rados?aw Sikorski

The UK’s demands for cuts to the EU budget are wrong-headed, and a veto would backfire Over the last 20 years the United Kingdom has become much more European, but also Europe has become much more British. Britain has influenced the shape of the EU probably more than any other country. The single market was […]


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