As we approach the end of 2010, I will be blogging on the top economic stories that have dominated our lives this year.
Deficits and debts throughout Europe and the US threatened the sustainability of public finances. The UK, notoriously, had the highest levels of debt within the G20. David Cameron coined the phrase, 'the age of austerity', marking the start of unprecedented cuts in government expenditure. Amongst many cuts in spending, the reform of the welfare system created the biggest headlines - child benefit was removed for many parents.
As we begin 2011, taxation will also increase as VAT rises to 20% and transport costs increase, causing more misery for motorists.
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