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Fall in UK GDP poses extra challenge for Osborne

The Chancellor has to rethink some aspects of his fiscal policy against the background of a fragile economic recovery

By Vicky Pryce  

George Osborne is having his worst day since the government won power in May © Yui Mok/PA Wire/Press Association Images

Not a particularly good day for George Osborne as he has to face the realities of the voting down of his working tax credits legislation by the House of Lords. At the same time the first estimate for GDP for the third quarter of 2015 suggests a slowdown in…

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