George Osborne

The man who first proposed the break- up of the FSA and a return of powers to the Bank of England is set to become the coalition Government's key business spokesman in the House of Lords.

Economists are warning the new coalition government may have to impose £50bn of tax rises only months into its tenancy including a hike in VAT.

Take a look at the mix of Tory and Lib Dem MPs who will be running Britain for the next five years.

Inflation is set to fall below its 2% target - even if interest rates remain at their record low, the Bank of England says in its Quarterly Inflation Report.

Many advisers will be disappointed this morning the FSA is likely to survive as new Chancellor George Osborne has been forced to water down plans to hand over banking supervision to the Bank of England.

Both former shadow chancellors George Osborne and Vince Cable have been given positions in the new Coalition cabinet.

Capital Gains Tax(CGT) is set to rise on so called 'non-business' assets under the new Coalition Government to help reduce income tax for low earners.

George Osborne, the new Chancellor, is a member of the old Anglo-Irish aristocracy, being heir to the baronetcy of Ballentaylor in Co. Tipperary, Ireland.

Two Bank of England directors have been earmarked to take control of transferring banking supervision from the FSA to the central bank if the Tories win the election.

Ken Clarke, Vince Cable and Alistair Darling have come out as more popular choices to fill the role of Chancellor than George Osborne, among City economists.