UK economy

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A employee walks by a meat cooler in the grocery section of a Sam's Club during a media tour in Bentonville, Arkansas, U.S. on June 5, 2014

Andrew Walker

BBC World Service economics correspondent

How would the UK benefit from a trade deal with the US and is it likely to happen?

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Vince Cable: 'Worrying' parallels to crash of 2008

The World at One

BBC Radio 4

Sir Vince Cable, who predicted the 2008 financial crash, has warned there are "worrying" parallels between the current economic situation and the "massive economic heart attack" the country suffered then.

The leader of the Liberal Democrats was talking to Radio 4's World at One after a Bank of England official warned that a sharp rise in personal loans could pose a danger to the UK economy.

Sir Vince acknowledged the situation had changed with the financial authorities now making banks hold more capital, but for those individuals who have got the loans, "there is a worry that if the economy slows down... or interest rates go up, then they could be hurt quite badly."

'Shrinkflation' has been going on for past five years: ONS

"Shrinkflation" has been going on for five years, says the Office for National Statistics.