THE DAILY TELEGRAPH: George Osborne's recovery plans have received a welcome boost with better than expected third quarter growth figures and a crucial upgrade in the rating of the UK economy.
Gross domestic product (GDP) grew by 0.8 per cent between July and September - less than the 1.2 per cent surge in the previous three months, but double the growth predicted by most economists.
Growth over the past six months has now hit 2 per cent, which is the fastest pace of expansion seen over two consecutive quarters for 10 years.
The data eases fears of a double dip recession and will reinforce government hopes that the private sector will pick up the slack created in the economy by mammoth public spending cuts.
Ratings agency Standard & Poor's added to the cheer by revising its outlook on the UK to stable from negative and confirming the UK's AAA rating. >>> | Tuesday, October 26, 2010
THE DAILY TELEGRAPH: Banks should be broken up, Bank of England Governor Mervyn King warns: Mervyn King, Governor of the Bank of England, has thrown his weight behind breaking up the banks as part of wider reforms to protect the taxpayer from another financial industry meltdown. >>> Philip Aldrick, Economics Editor | Monday, October 25, 2010
