U.K.’s Budget Master Plans for More Pain

When the Conservative Party won an unexpected majority in U.K. elections in May, it didn’t just mean George Osborne would get to keep his job as chancellor of the exchequer. It also put the keys to 10 Downing Street within his grasp.

Ed Miliband: Cameron’s wage call is desperate bid to hide living cost failure

Ed Miliband has poured scorn on the prime minister’s calls for wage rises by condemning the Tories for waiting until the general election year to address “the worst cost of living crisis in more than a century”.

Bank of England sits tight over rates, stimulus

LONDON: The Bank of England on Thursday kept its main interest rate at a record low 0.50 per cent and decided to maintain the amount of special funds used to help stimulate Britain's recession-affected economy.

Cameron: 'Moment of danger' for global economy

David Cameron has said the world economy is at "a moment of danger" as a result of the eurozone crisis.

He told BBC political editor Nick Robinson there were "serious clouds on the horizon" and it was "absolutely vital" to stabilise the euro.

After that was done, he said, there must be "more on the growth front" in the UK to get the economy moving.