OBR: Economy running 3% below full capacity

The head of the Office for Budget Responsibility Robert Chote said the British economy is running three per cent below full capacity and predicted negative growth for this year.


UK credit rating 'at risk'

The credit rating agency Fitch has warned that the Chancellor's confession during the Autumn Statement that he missed its debt target could threaten the UK's AAA rating. But George Osborne has downplayed the impact potential if that happened.