Cameron to hint at assault on tax credits in welfare speech

David Cameron is to deliver his strongest hint yet that he intends to launch an assault on tax credits as he pledges to end the “merry-go-round” of welfare payments that means low wages are topped up by the state.

Pound Drops to 5-Year Low After Output Data, Amid Election Risk

The pound fell to an almost five-year low against the dollar as U.K. industrial production rose less than economists forecast, damping demand for Britain’s currency.