UK economy 'needs full-blown rebalancing'

Bank Of England Building

One of the U.K.'s top business lobbying organisations has raised its growth forecasts for the U.K. this year and next after a better-than-expected round of economic data, but warned that unemployment will be 'sticky' over the medium term.

No 'Happy New Year' For UK As Gloom Worsens

Unhappy David Cameron

With gloomy economic forecasts, falling consumer confidence and poor retail figures adding to concerns over talk of the U.K. leaving the European Union, 2013 is set to be a tough year for the country, analysts say.

Britain Will Be Third World Economy by 2014

Sagaform Great Britain Serving Bowl

The U.K. economy may have just exited recession by posting its strongest quarterly gross domestic product growth in five years, but according to a recently published book, the U.K. will have a third world economy by 2014.