George Osborne

The Chancellor looks set to decide the future of the taxpayer-backed lender this week following a government-commissioned review of the business.

The International Monetary Fund has upgraded its growth forecast for the British economy amid what it called ‘welcome signs' of a pick-up in activity following the global crash.

The Treasury has applied for European Union (EU) approval to split up Royal Bank of Scotland (RBS), to smooth the process of carving up the state-owned lender.

FIVE THINGS

Chancellor George Osborne has asked the Bank of England to take a bigger role in ensuring his Help to Buy housing scheme does not fuel a property boom.

The government has announced the members of its new Financial Services, Trade and Investment Board (FSTIB), which will be in charge of promoting trade and attracting investments as part of the government's economic recovery strategy.

TAX RELIEF

The future of the UK economy may not be as bright as some have predicted, with the weakest recovery in "industrial history" limiting annual growth to 1% in the longer term, according to a thinktank.

The economy is "turning a corner", Chancellor George Osborne is expected to say later today.

Chancellor George Osborne has urged cabinet colleagues "not to get ahead of themselves" about the UK's economic recovery.