Category: (3)

Interest rates will stay on hold at their record low until 2016 according to the Centre for Economics and Business Research. Growth under or around 1% for years to come will force the Bank of England to keep the base rate at 0.5%, cut to that level in March 2009, for another four years, the CEBR predicts.

Channel 4 ran an interesting story yesterday investigating the potential legacy of the Olympic Games on local businesses, it looks like international corporations stand to gain much more than local businesses.

A controversial new high-speed rail line between London and Birmingham is approved by the government, which says it will bring major economic benefits.

The first phase of the project would cut London-Birmingham journey times, on 225mph trains, to 49 minutes, Ms Greening said.

This would be followed by a second phase of Y-shaped track reaching Manchester and Leeds by about 2033.

Connections to existing lines should then cut journey times between London, and Edinburgh and Glasgow, to three-and-a-half hours.