The Office for Budget Responsibility says that tougher austerity measures and higher taxes are needed if Britain is to achieve long term fiscal sustainability.
Contractors will no doubt be pleased to learn that the job market is improving and there has been an increase in the number of vacancies being advertised.
On Monday, George Osborne and Vince Cable announced a fundamental review of the steps all areas of Government are taking to promote the best conditions to encourage growth in the private sector.