Canada has replaced the US as the country with the world’s richest middle class according to new analysis.
The UK economy grew by 1.9% in 2013, the fastest growth rate since 2007, according to the latest figures from the Office of National Statistics (ONS).
UK economic output rose by 0.8% between July and September according to the latest figures from teh Office of National Statistics
The UK has avoided falling back into recession, with the latest ONS estimates showing a 0.3% growth in GDP in the first quarter of 2013.
An attempt to replicate the results of the Reinhart and Rogoff study into the correlation between high GDP debt and economic growth titled “Growth in a Time of Debt” that is the statistical basis for the arguments for austerity policies has resulted in a number of fundamental errors being found in the model.