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Bad for Osborne, worse for Balls

A new report's conclusions about the economy will trouble both sides of the political divide

By Jay Elwes  

Yesterday, the Bank for International Settlements released its 84thAnnual Report on the health of the global economy. The Bank, an international organisation that advises national Central Banks, examined in detail the progress made across the world in managing the post-2008 recovery. The picture is highly complex, pointing out that nations suffered economic reversals of substantially different types. But its analysis of the UK’s economy is startling and contains within it some hard lessons for British politicians, as they begin setting out their economic policy positions in preparation for next year’s General Election.

In the wake of the crisis, the report…

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