Britain will be advised to sell off the state's holdings in the Royal Bank of Scotland and Lloyds Bank by the International Monetary Fund (IMF) in a move that will embolden George Osborne as he attempts to justify his economic strategy.

Britain's shale gas reserves could �be a new North Sea for Britain�, meeting more than a third of annual gas needs, reducing dependence on imports and generating significant tax revenues, according to the Institute of Directors.

A �5bn hole in the public purse has been caused by the failure of HM Revenue and Customs to clamp down effectively on fraud and error, MPs warn on Wednesday.

Fiat Industrial aims to move its tax residency to the UK from Italy after a merger with US business CNH to take advantage of a lighter fiscal regime, according to a regulatory filing.

These pensioners will have to survive on just �170 a week - compared with an average weekly income of �322 should they have saved into a private pension.