The UK economy

Analysis from Press TV

UK ailing economy

The British economy is officially worse than expected. Will 2012 be the year of recovery or recession? 

Meanwhile, fuel problem is growing with the government telling drivers to stockpile gasoline over fears of a looming strike by fuel-tanker drivers. 

At the same time, George Osborne's Budget for 2012 has been met by a largely negative reception in the press and from members of the public. 

Osborne reduced the 50% top rate of income tax to 45% and drove through new cuts to corporation tax.