With an easing of fiscal policy off the cards, George Osborne’s only hope for growth may lie with another round of quantitative easing

Last week saw the release of low quarterly growth figures from the Office for National Statistics. Tony Dolphin argues that the government has done little to prevent the current period of mild stagflation and, if it is unwilling to increase spending or reduce VAT, the only action that can be taken to encourage growth is further quantitative easing