George Osborne

State investment in British business will be cut by £636m this year, as Chancellor George Osborne seeks to drive a "private sector recovery".

George Osborne's hopes of a "Tell Sid" style privatisation of RBS and Lloyds Banking Group have been dashed by the government's pledge to launch a year-long investigation into splitting up the banks.

Tomorrow's Queen's Speech will see financial regulation put back in the hands of the Bank of England, leaked documents reveal.

The Consumer Prices Index (CPI) hit a 17-month high of 3.7% in April, forcing Bank of England governor Mervyn King to write to new Chancellor George Osborne to explain why.

Traders are predicting chaos on the world's second-largest government bond market after the German authorities announced a ban on all naked short-selling in European public debt, as well as shares in the country's 10 largest financial institutions.

UK inflation probably accelerated to a three-month high in April as higher energy costs and the weak pound stoked prices enough to prompt a letter of explanation from Bank of England governor Mervyn King.

The coalition Government will hold its first Budget on 22 June.

Economists are warning the new coalition Government may have to impose £50bn of tax rises only months into its tenancy, including a hike in VAT.

Both former shadow chancellors George Osborne and Vince Cable have been given positions in the new coalition cabinet.

Capital gains tax (CGT) is set to rise on so called 'non-business' assets under the new coalition Government to help reduce income tax for low earners.