UK Chancellor George Osborne will announce plans to create a law banning future governments from running a deficit.

The UK’s chancellor of the exchequer, George Osborne, will use his yearly speech at Mansion House the evening of June 10th to announce plans to introduce a law that forces future governments to run a budget surplus. It will effectively require governments to stop spending all the taxes and money it collects in “normal” economic conditions, instead saving some for times of hardship.

Research suggests collective value of online shopping in US, China, UK and Germany will double by 2018 to £645 billion.

The four largest online shopping markets in the world will continue to grow over the next three years, with new research suggesting that the size of the market will double to £645 billion by 2018.

The UK’s economy is on a “firm footing” after growing faster than predicted in 2014 according to CBI forecast.

Britain’s economy has nothing to worry about, despite a slight downgrade in recent growth forecasts. In fact, the UK’s economy is on a “firm footing” after growth in 2014 surpassed expectations. Predictions point towards solid, steady and sustainable growth in 2016, according to the Confederation of British Industry (CBI).

UK Chancellor George Osborne announces plans to sell off government's remaining 30 per cent stake in Royal Mail.

In a bid to further reduce the budget deficit, UK chancellor George Osborne revealed plans to sell the remaining 30 per cent stake in Royal Mail. The shares are currently worth £1.5 billion and the sale will begin later this year, Mr Osborne announced on Thursday.

The plans were detailed alongside £3 billion worth of debt-reduction measures, which highlight the Conservatives' pledge to wipe out national debt.

For the first time since the financial crisis, the economies of all the EU member states are forecast to expand this year, says a World Bank report.

Economic expansion is set for all of the European Union’s (EU’s) economies in 2015 for the first time since the financial crisis. The growth will be driven higher by a variety of factors including low oil prices, a weaker euro and the European Central Bank’s government bond buying scheme, according to a new World Bank report

We look at the bills that were outlined in the first fully Conservative Queen’s speech in two decades.

Marking the official state opening of the new parliamentary session, the Queen’s speech set out the incoming government’s proposed legislation for the next five years. Written by the government of the day and delivered by the monarch in tone that passes no judgement over the bills, the Queen’s speech was packed full of economy-boosting proposals.

New UK business secretary Sajid Javid to cut red tape by £10 billion over next five years.

Sajid Javid, the new business secretary, will outline how the new parliament will cut red tape for businesses by at least £10 billion. It will be his first speech since replacing Vince Cable and will include details of the enterprise bill alongside plans to create two million jobs over the next five years.

The UK restaurant sector has boomed with turnover reaching £21 billion, a 39 per cent increase in five years.

Britain’s restaurants continued to cater to the public and saw business positively boom in the years since 2010, despite the economic downturn. Turnover in the dining out industry reached £21.6 billion in 2014, an increase of 39 per cent from the £15.5 billion recorded in 2010, according to data from Companies House analysed by finance company LDF.