Ten Things You Need to Know Today: Tuesday 29 Nov 2011

1. OSBORNE CUTS PUBLIC SECTOR PAY

Chancellor George Osborne has announced in his Autumn Statement that public sector pay rises will be held at 1% for 2013 and 2014 and that government borrowing will be £112bn higher than expected over the next four years. This year's growth forecast is down from 1.7% to 0.9% and next year's target is now just 0.7%. However, the country should avoid another recession.

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