UK economy

The coalition government led by David Cameron has been criticised for sticking to a strategy of austerity even though the country was expected to suffer a triple dip recession in early 2013. It was also stripped of its prized AAA credit rating in February 2013.

A view of semi-detached homes in Bexleyheath, southeast London, May 12, 2014. The Bank of England gave a clean bill of health to Britain's controversial flagship mortgage guarantee scheme on Thursday, sparing the government from potential embarrassment in the run-up to a national election. The central bank also formally asked to expand its arsenal of powers to curb mortgage lending for homes and buy-to-let properties, and said it was bringing forward the date when it would put a figure on the maximum leverage banks can have. Picture taken May 12, 2014. REUTERS/Suzanne Plunkett (BRITAIN - Tags: BUSINESS REAL ESTATE) ATTENTION EDITORS - PICTURE 02 OF 21 FOR WIDER IMAGE STORY 'NEIGHBOURING VISIONS' SEARCH 'PLUNKETT VISIONS' FOR ALL PICTURES

UK house prices expected to rise 6pc in 2016

British house price are likely to rise more slowly next year, at 4 to 6 per cent, compared with growth of nearly 10 per cent in the past 12 months, mortgage lender Halifax forecast.