Labour’s shadow chancellor Ed Balls: “Getting points on my licence will be a blow but that’s the way it works.” Photograph: Andrew Milligan/PA

Labour shadow chancellor Ed Balls faces a large fine and 10 points on his driving licence after he crashed into a car and drove off without notifying (...)

British Labour Party shadow chancellor Ed Ball: “David Cameron has gone from not wanting to talk about the cost-of-living crisis to effectively telling people they’ve never had it so good.” Photograph: Frank Miller

Labour will end borrowing billions to pay for the day-to-day cost of running Britain if returned to power in 2015, a leading party figure is to ple(...)

Britain’s chancellor of the exchequer George Osborne and chief secretary to the treasury Danny Alexander leave for the House of Commons ahead of the dilivery of the annual autumn financial statement.

George Osborne has forecast that Britain will run a budget surplus by 2018 for the first time since the millennium as he declared in his autumn statem(...)

Paul Flowers left the Co-op in June after three years as chairman when the bank brought in new management to oversee a restructuring and deal with a €1.5 billion capital shortfall. Photograph: PA

British police have searched the home of former Co-operative bank chairman Paul Flowers after a national newspaper published a video apparently showin(...)

Incoming Bank of England governor Mark Carney may not have the immediate tools at hand to provide a monetary stimulus even if he wants to. Photographer: Gianluca Colla/Bloomberg

Mark Carney’s arrival at the Bank of England this morning is as much of an event at Westminster as it is two miles away in the City; few appointments (...)