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Page last updated at 08:44 GMT, Thursday, 22 December 2011

'Less space for bumper pay awards'


The latest figures are about to be published for the output of the British economy. The Office for National Statistics' GDP figures are expected to confirm that the economy is still trapped in the doldrums. Gillian Tett, associate editor of the Financial Times, Sir Richard Lambert former director general of the CBI and present Chancellor of the University of Warwick and Geoff Mulgan, former CEO of the Young Foundation and a former director of policy at 10 Downing Street, discuss whether 2011 has been a watershed year in terms of highlighting the need to rebalance the economy.

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