FORECASTS for growth next year will be almost flat next year at 0.7%, down from the 2.5% forecast earlier this year.
Growth for this year will reach 0.9%, down from the firecast of 1.7%. But there will be 3% by 2015.
Osborne said: “Debt challenge greater than we thought because the boom was even bigger and bust was even deeper.”
Osborne said borrowing is falling but not at the rate forecast.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies