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UK triple-dip recession looms

Chancellor George Osborne has vowed not to "run away" from Britain's economic problems amid fresh signs the UK is heading for an unprecedented triple-dip recession.

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Boris Johnson: There are stupendous sums of money swirling around the planet

London Mayor Boris Johnson has denied that he was being critical of the Chancellor George Osborne's handling of the economy when he called for an end to the rhetoric of austerity today:

Speaking at the World Economic Forum in Davos, he said Mr Osborne was "on the money" with his talk of cutting the deficit, but that there were also more positive stories to tell.

He added that there were "stupendous sums of money" in the private sector waiting to be invested.

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