OBR

Sterling has fallen back below $1.69 after worse-than-expected borrowing figures disappointed those investors hoping for further confirmation the economy is back on track.

The Office for Budget Responsibility (OBR) has raised its forecast for UK economic growth this year as the recovery continues to gather pace.

George Osborne is potentially facing a £20bn black hole in the public purse when he delivers the next Budget, according to a re-creation of government models put together by the Financial Times.

STATE PENSION

The cost of dealing with the country's ageing population will increase government spending by about 4% of GDP - or £61bn in today's terms - by the 2060s, according to government projections.

High earning workers will shift about £5bn into the new tax year to take advantage of the cut in top rate tax, the Sunday Times reports.

BUDGET 2013

The UK economy may see little or no growth in 2013 in what could represent a 'groundhog year' for Britain, a thinktank has warned.

The UK is not heading towards a triple dip recession, the Treasury chief secretary has said.

Britain could lose its AAA credit rating after George Osborne admitted he will miss his target to reduce Britain's debts and have to borrow an extra £100 billion.