Office for National Statistics

The government received more income than it spent in January, posting the highest surplus for four years following a drive to cut public spending.

The UK economy officially grew by 0.5% in Q1, according to the Office for National Statistics'(ONS) third and final estimate for the period.

The pound has risen against the euro after UK GDP growth was reported as -0.5% in Q4 2010, slightly ahead of previous estimates of -0.6%.

The UK inflation rate rose to 4% in January, which is double the government's target and up from 3.7% the previous month.

CPI inflation remained at 3.1% in September but the figure is still well above government targets.

UK GDP rose by 1.2% in Q2 as previously estimated, representing the biggest increase since the first quarter of 2001.

UK inflation dropped marginally to 3.1% in July but remains well above the Government's 2% target.

George Osborne and Vince Cable fear the rationing of lending to small firms could reverse the UK's economic recovery.

The consumer price index (CPI) of inflation eased in May to 3.4%, down from 3.7% in April, according to the Office for National Statistics (ONS).

UK manufacturing performance took an unexpected knock in April according to official data, adding to fears Britain's economic recovery is much weaker than previously thought.