OECD warns Britain risks 'debt spiral' - papers

OECD upgraded its forecast for growth for Britain to 1.2pc next year, and urged the government to get the budget deficit under control, reports the Telegraph. The organisation says even if Britain cuts its deficit in line with other leading nations it will still be the world's most indebted rich country until 2017 and potentially beyond, casting serious doubt on its economic credibility. The warning coincides with shock public finance statistics showing public borrowing in October of 88 times more than the same month last year, increasing the likelihood the Chancellor will miss his £1...