One in six major government projects are in need of “urgent remedial action”, including flagship policies such as its Universal Credit welfare reform, the HS2 rail line and the rollout of high-speed broadband.

Angry shareholders of HSBC on Friday bombarded the group's board with barrage of accusations ranging from financing Mexican drug cartels to supporting tax havens, slashing jobs and mis-selling products.

Suffolk's growing reputation as the “green coast” has received a major shot in the arm after officials approved a 140 turbine offshore wind farm.

Households paid off £241m more mortgage debt than they borrowed in an effort to get on top of their debts. Before May last year, net lending had never been negative since the BBA started collecting the data in 1997.

The euro zone has been reminded lately that although investors are showing renewed confidence in its financial markets that its crisis is still simmering below the surface.