The Office for Budget Responsibility (OBR) needs to have its own staff and offices to head off criticism it lacks independence, outgoing boss Sir Alan Budd says.

The City watchdog is considering whether Britain can claim exemption from European laws that will introduce the toughest pay restrictions in the world.

The FTSE began to recover early losses on Thursday after the European Central Bank (ECB) revealed modest take-up of its latest short-term loan facility.

Hedge funds and asset managers will be caught by the EU-led crackdown on bankers' bonuses, it emerged last night.

A member of the Bank of England's Monetary Policy Committee (MPC) has called for a rise in interest rates for the first time in almost two years.

Writing in the Guardian, business secretary Vince Cable says the impact of yesterday's Budget will be "painful".

There will be a two-year pay freeze for public sector workers, Chancellor George Osborne said today.

Chancellor George Osborne today lowered the UK's economic growth forecast for the next five years.

CGT, VAT, public pensions... Prime Minister David Cameron has already warned today's emergency Budget will likely contain some of the harshest measures since World War II.

Besieged BP chief Tony Hayward yesterday declared his "deep sorrow" over the Gulf of Mexico oil spill after US Congressman accused his company of "astonishing complacency" and of having a "cavalier attitude to risk".