Tribune – Comment, news and reviews from Britain's democratic left

Fears over Britain’s economic recovery deepened after the Office of National Statistics announced shock figures showing that the economy shrank by 0.5 per cent in the final quarter of 2010 – leading to widespread criticism from unions and even the CBI that the Tory-led Government’s cuts programme has no plan for growth.

Prime Minister David Cameron, his deputy Nick Clegg and Chancellor George Osborne flew to Davos last week to network with the world’s super-rich as forecasts showed much of the global economy pulling out of recession.
Back at home, however, Britain saw growth shrink by 0.5 per cent and Bank of England governor Mervyn King confirmed what millions of households already know – that prices are rising rapidly while incomes are shrinking at a rate not seen since the 1920s.

A YouGov survey for the pressure group 38º shows the vast majority of people – three-quarters of those polled – are against the Conservative-led coalition’s controversial proposals to privatise the woodlands of England.

A 10 per cent jump in the number of firms going bust during 2011 was predicted by insolvency specialists as more companies experience financial distress.