Ten Things You Need to Know Today: Thursday 1 Dec 2011

1. BANKS WARNED AS CREDIT CRUNCH LOOMS

Downing Street has admitted that Britain is in a second credit crunch and Bank of England governor Mervyn King has warned banks to build up their reserves to survive the crisis. The Institute for Fiscal Studies says British families are facing the worst squeeze in living standards for over 50 years, and will be no better off in 2016 than they were in 2002.

The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Join more than 350,000 subscribers and keep yourself informed with a selection of The Week’s most interesting, enlightening and entertaining stories - plus daily puzzles.

Sign up
Latest Videos FromThe Week
Explore More