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George Osborne 'to miss UK debt reduction target by £22bn'
The Chancellor will miss his debt reduction target by £22bn and have to tear up his public finance rulebook in December’s Autumn statement, the National Institute of Economic and Social Research said, as it warned the economy will show little sign of recovery until 2015. The outlook came as Britain’s manufacturers contracted for a sixth month running in October on worrying signs of a collapse in export demand from Asia, prompting economists to declare a “dismal start” to the fourth quarter after the sharp rebound in growth in the three months to September. Cutting its UK growth forecast for 2013 due to the ... (full story)