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Business 25 Mar 2010 | 12:00 AM

UK announces taxes on rich ahead of election

LONDON (AP): Prime Minister Gordon Brown's government used its last budget before a looming national election to take from the rich and give to the poor, raising accusations it is invoking a class war as it attempts to win over recession-weary voters.

Business 21 Mar 2011 | 12:00 AM

London market to focus on British budget this week

LONDON: THE London stock market, shaken by Japan's nuclear crisis and the prospect of UN-backed military strikes in Libya, will switch focus this week to the British government's annual budget.

Business 29 Nov 2011 | 12:00 AM

Australia announces spending cuts to return to surplus

CANBERRA, Nov 29 (Reuters) Global uncertainty over the European debt crisis has forced Australia to cut its economic growth and revenue forecasts and to outline new spending cuts so the government can honour a promise to return a budget to surplus mid 2013.

Business 30 Nov 2011 | 12:00 AM

Australia unveils cuts to return to surplus

CANBERRA: Global uncertainty over the European debt crisis has forced Australia to cut its economic growth and revenue forecasts and to outline new spending cuts so the government can honour a promise to return the budget to surplus mid 2013.

Business 30 Nov 2011 | 12:00 AM

Higher UK debt seen as GDP outlook slashed

LONDON: British Finance Minister George Osborne will pave the way for several more years of deep government spending cuts when he reveals forecasts for much weaker growth and a borrowing overshoot of £86bil over the coming years.

Business 26 Mar 2012 | 12:00 AM

London investors watching growth estimates this week

AN official estimate of British growth in the fourth quarter of last year and a clutch of trading updates from blue-chip companies are on the agenda for London’s stock market investors next week.

Business 25 Apr 2012 | 12:00 AM

UK slides back into recession in first double dip since 1970s

Britain's economy slid into its second recession since the financial crisis after official data unexpectedly showed a fall in output in the first three months of 2012, piling pressure on Prime Minister David Cameron's embattled coalition government.

Business 19 Nov 2012 | 12:00 AM

Cameron pledges to lower hurdles to growth

LONDON: British Prime Minister David Cameron promised on Monday to slash legal and regulatory obstacles to economic growth, seeking to ward off criticism that the government is doing too little to help companies and revive an ailing economy.

Business 20 Nov 2012 | 12:00 AM

BoE deputy governor likely to get top post

LONDON: British Finance Minister George Osborne is expected to play safe and pick deputy governor Paul Tucker as the new chief of the Bank of England (BoE), ignoring calls for a more radical option to shake up the central bank.

Business 04 Dec 2012 | 12:00 AM

Global slowdown, austerity to constrain UK economy

LONDON: Britain's economic growth in the next two years will be weaker than previously thought, held back by a global slowdown and domestic austerity measures, the British Chambers of Commerce (BCC) said on Tuesday