12/07/2010

News and views from the business world.

The Institute of Chartered Accountants and the Centre for Economic and Business Research have warned the government owes far more than previously declared. It's research suggests the UK has liabilities of around £1.25 trillion, or 76% of our GDP. We speak to Robin Feith, Executive Director of the Institute of Chartered Accountants in England and Wales.

The Office for National Statistics is to publish its final assessment of GDP growth in the first quarter later. The ONS is not the only quango in the limelight over statistics because the "independent" Office for Budget Responsibility is facing questions following its decision to alter its economic forecasts. Dr Linda Yeuh, Fellow in Economics at Oxford University, explains whether we can trust the figures.

The engineering body the EEF is calling on the government to invest in the UK's creaking energy infrastructure. The Director of Policy at the EEF, Steve Radley, says time is short.

Young farmers and first time buyers in rural areas are being priced out of buying property according to a report from the National Farmers Union and the National Housing Federation. The average salary in rural England is just £21,000, yet the average house is more than ten times that. Paul Rees, assistant director at the National Housing Federation, says the gulf between earnings and house prices is too wide.