Morning papers: Osborne claims austerity victory

A bullish George Osborne declared victory on Monday in his battle with Labour over austerity, proclaiming that recovery was under way and that recent “early signs” of growth were a vindication of his economic policies, reports the Financial Times.

Seizing on a summer of positive economic data, the chancellor dismissed Labour’s argument that deficit reduction was hurting the economy excessively, saying that the opposition could not explain why the economy was “turning a corner” when the government was still practising austerity.

Britain set for ‘game-changing year’ for jobs

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Britain is set for a “game-changing year” for jobs as the economic recovery picks up pace, according to a report published today, reports the Daily Mail.

Recruitment group Manpower said 2013 is on course to be the best year for job creation in the UK since 2007 as businesses take on new staff.

Soaring house prices spread across UK as surveyors warn of another bubble

House prices are rising at their fastest pace for almost seven years, according to the latest survey to point to a property market on the rise, reports The Guardian.

Estate agents polled by the Royal Institution of Chartered Surveyors’ indicated the fastest rise in prices since their peak in late 2006 as government schemes such as Funding for Lending continued to improve access to mortgages.

Shopping centres and out-of-town retail parks hit harder than high streets

Shopping centres and out-of-town retail parks are the surprise victims of the economic downturn, according to new figures published on Tuesday, reports The Guardian.

Shopping centres have the highest proportion of empty shops, at 16 per cent, compared with a national average across all types of retail centre of 14 per cent.

Vodafone hits a hitch over £6bn bid for German firm

Vodafone was yesterday facing a surprise hitch over its £6.6bn take-over of Kabel Deutschland, as not enough shareholders in the German company look set to approve it by tomorrow’s deadline, reports The Independent.

The deal could collapse if Vodafone fails to win 75 per cent acceptance, although those close to the British mobile giant said it was too soon to say what will happen.

European utilities warn EU over energy risks

Nine of Europe’s biggest utilities have joined forces to warn that the EU’s energy policies are putting the continent’s power supplies at risk, reports the Financial Times.

Amount borrowed by workers who run out trebles in just 18 months

Workers running out of cash are borrowing three times as much as they were just 18 months ago, while payday lenders are cashing in on a sizeable chunk of them, a survey has revealed, reports the Daily Mail.

Two-thirds of the 4,087 workers surveyed by Unite, the union, say that they run out of money by the third week after they are paid, and some of them are turning to payday lenders.