Osborne: UK has 'turned a corner' thanks to austerity

The economy is "turning a corner", Chancellor George Osborne is expected to say in an upbeat speech later today.

Osborne will make a speech in London today stating there are "tentative signs of a balanced, broad based and sustainable recovery". He is, however, expected to stress that it is still in the early stages and "plenty of risks" remain. The Chancellor will say that recent months had "decisively ended" questions about his economic policy, according to reports. Revised GDP figures showed the UK economy grew by 0.7% in the second quarter, with predictions growth could reach 1% in Q3. Last week the OECD economic agency sharply increased its growth forecast for the UK economy this year, to...