The outgoing Governor of the Bank of England today delivered some good news for "the first time since the financial crisis began" in 2007.
The Squeeze could be the title of a horror B-movie but it describes a nasty phenomenon affecting every purse or wallet in the country.
The Co-Operative Bank's chief executive has resigned after Moody's downgraded its debt to junk status.
The number of people claiming extra handouts from councils to meet housing costs has soared following the introduction of the so-called "bedroom tax", figures have revealed.
More than 25,000 people applied for discretionary housing payments (DHP) to help cover their rent in April, compared with 5,700 in the same month last year, according to an analysis of 51 councils by The Independent.
The Government has substantially increased the DHP funding pot for local authorities to help those most affected by the withdrawal of what ministers call the "spare room subsidy".
Campaign group UK Uncut Legal Action has lost its High Court challenge to the legality of the "sweetheart" tax deal between HM Revenue and Customs and Goldman Sachs.
A judge was told the 2010 deal, worth up to £20 million, was allowed to proceed to avoid "major embarrassment" to Chancellor George Osborne.
UK Uncut asked Mr Justice Nicol, sitting in London, to declare that HMRC's decision to let the deal go through was legally flawed and involved a breach of statutory duty.
The judge ruled the deal was "not a glorious episode in the history of the Revenue" but it was not unlawful.
Tax authority lawyers defended the settlement, saying it was among five big business deals declared "reasonable" by a 2012 report of the National Audit Office (NAO).
UK Uncut says it is wrong to allow rich companies to avoid paying millions in tax while the Government imposes tough austerity measures on the poor and ordinary taxpayers are pursued for every penny.
In his final forecast as Bank of England governor, Sir Mervyn King gave what he said was his most positive assessment of the economy since the beginning of the most recent economic crisis.
Sir Mervyn predicted growth will be a "little stronger" than previously hoped, setting the UK on course for a "modest and sustained" recovery.
But he warned it will be a "weak and uneven" recovery.
George Osborne told business leaders tonight the Government's economic plan "is working".
Speaking at the CBI annual dinner at Grosvenor House, the Chancellor said, "We will stick with our approach”.
Shadow Treasury minister Chris Leslie said George Osborne is "in total denial about the failure of his economic plan" ahead of the Chancellor's speech to business leaders.
Mr Leslie said: "He has now delivered the slowest recovery for 100 years, falling living standards and rising unemployment. And borrowing is set to be £245 billion more than planned to pay for the costs of this economic failure.
"If we're to have a strong and sustained recovery, and catch up all the ground we have lost over the last three years, we need urgent action to kickstart our economy now and reforms to strengthen it for the long term.
"It's time George Osborne listened before any more long-term damage is done", he added.
Chancellor George Osborne is expected to tell business leaders that the Government is prepared to stick to its economic course, saying, "Now is not the time to lose our nerve ... Our plan is working".
As he addresses the CBI annual dinner at Grosvenor House tonight, Mr Osborne will say that spending more to rejuvenate the UK's fortunes is "patently ludicrous" and would set the recovery back
He is also set to rubbish Labour's calls for a temporary VAT cut, claiming the figures do not "stack up".
The Chancellor is expected to say: "My message to the business community and to the country is this - we have a clear economic plan.
"Our plan is working. Now is not the time to lose our nerve. Let's not listen to those who would take us back to square one.
"Let's carry on doing what is right for Britain, let's see this through".
The outgoing Bank of England Governor Sir Mervyn King has given his most upbeat signal yet that the UK will recover from the financial crisis.
During his last forecast as governor, Sir Mervyn predicted growth will be a "little stronger" than previously hoped, setting the UK on course for a "modest and sustained" recovery.
He said the economy should expand by 0.5% in the second quarter of this year, while inflation will not surge as much as feared.
But he warned it will be a "weak and uneven" recovery.
Outgoing Bank of England Governor Sir Mervyn King has said "the most durable lesson of the last 20 years is the overriding importance of basing monetary policy on serious economy analysis rather than politics or market mystique".
He added: "After 89 press conferences, 82 under the banner of the inflation report., I've had my say, now it's over to the next generation to have theirs"
Outgoing Bank of England Governor Sir Mervyn King has said there is a "welcome change in the economic outlook" for the UK and projected a "modest and sustained" recovery.
As he delivered his final inflation report, he predicted: "Growth to be a little stronger and inflation to be a little weaker than we expected three months ago.
"That's the first time I've been able to say that since before the financial crisis", he added.
"But this is no time to be complacent. We must press on to ensure a recovery and to bring down unemployment" ,he cautioned.