Portrait of the week | 23 January 2014
Home George Osborne, the Chancellor of the Exchequer, said that he was in favour of increasing the minimum wage by an amount greater than that of inflation. The International Monetary Fund raised its expectation of growth for Britain in 2014 to 2.4 per cent, from a forecast of 1.9 per cent last October. Unemployment fell to 7.1 per cent. More than 3.3 million people between the ages of 20 and 34 were living with parents in 2013, 26 per cent of that age group, the Office for National Statistics said, and a number 25 per cent bigger than in 1996. London’s share of national output reached 22.4 per cent in 2012, according to official data.