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Budget for an emergency

Harriet Harman, acting Labour leader responding to Mr Osborne's Emergency Budget Statement said: "This is a Tory Budget that will throw people out of work, hold back economic growth and harm vital public services....It's his first Budget but its the same old Tories....In order to get the deficit down, you need to keep economic growth up and you need to keep unemployment down....Today's Budget is bad for growth and that will make it harder to cut the deficit."

Buyout vehicle Resolution to buy AXA's UK life assurance business

Buyout vehicle Resolution is to buyout the UK life assurance business for £2.75 billion. The deal, which includes the life insurance business, pensions business, Corporate and Annuities business is underwritten by Barclays Capital and RBC Capital Markets - and other shareholders of the buyout group.