Observer

Some 58% of respondents to an Opinium/Observer poll on the economy said that George Osborne’s austerity programme is failing to achieve the desired results – as opposed to 20% who felt that it was the right solution for the country. The findings came just 10 days before Osborne’s fourth Budget, which is tipped to be the deciding factor in whether or not the UK will plunge into a triple-dip recession.

The poll followed a stinging rebuke from Office for Budgetary Responsibility (OBR) chief Robin Chote, reacting to prime minister David Cameron’s claims late last week about the Coalition’s handling of the economy. While Cameron had said it was “absolutely clear” that his government’s policy was not to blame for the double-dip recession, Chote wrote: “For the avoidance of doubt, it is important to point out that every forecast published by the OBR since June 2010 has incorporated the widely held assumption that tax increases and spending cuts reduce economic growth in the short term … We believe that fiscal consolidation measures have reduced economic growth over the past couple of years.”

It is not the first time that Cameron has been caught out using misleading language about the economy…

Sunday Telegraph

Meanwhile, an open letter from 43 bishops – backed by Archbishop of Canterbury Justin Welby – has attacked the Coalition’s Welfare Benefits Up-rating Bill. Scheduled for debate in the Lords, the legislation would ensure that for the next three years, financial support will not rise by more than 1% annually, regardless of inflation.

“This is a change that will have a deeply disproportionate impact on families with children, pushing 200,000 children into poverty,” the bishops wrote. “A third of all households will be affected by the Bill, but nearly nine out of 10 families with children will be hit.

“These are children and families from all walks of life. The Children’s Society calculates that a single parent with two children, working on an average wage as a nurse, would lose £424 a year by 2015. A couple with three children and one earner, on an average wage as a corporal in the British Army, would lose £552 a year by 2015.”

Sunday Mirror

Labour leader Ed Miliband and shadow chancellor Ed Balls will this week table changes to the Financial Services Bill, forcing banks to lend to businesses or face harsh penalties. “When net lending to businesses has fallen for three years on George Osborne’s watch it’s clear his policies aren’t working,” said Balls. “We can’t go on like this. Boosting lending to small and medium sized firms is absolutely vital if we are to get our flatlining economy moving. George Osborne is continuing to duck the radical banking reform we need and which the cross-party banking standards commission has demanded.”

Mail online

The End of Free Banking has been prophesied, following news from Nationwide that its FlexPlus current account will only be available for a £10-per-month charge. The building society is hoping that the account’s wide range of insurance benefits will continue to make it attractive to consumers. “FlexPlus has been designed to [blend] market-leading levels of cover with competitive account features,” said Nationwide head of current accounts Phil Smith: “The insurances have been specifically designed to offer best in market protection offering a high level of cover as standard, rather than requiring customers to upgrade at an additional cost.”

Express

Sainsbury’s chief executive Justin King has hailed the performance of his company’s Sharesave scheme, which is poised to pay out £23 million to around 11,000 staffers. The scheme, which allows employees to save between £5 and £250 per month, could return tax-free profits of up to £2000 to its biggest savers.