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An issue of shares in Royal Mail was oversubscribed, pushing valuation well above initial forecasts of £3.3 billion. The IMF forecast British growth for 2013 to be 1.4 per cent; its estimate in July had been 0.9 per cent. The Commons Treasury select committee warned the Chancellor of the Exchequer that the government ‘Help to Buy’ scheme was likely to ‘raise house prices rather than stimulate new supply’.
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