Britain has turned the corner and is finding a road to recovery, Chancellor Alistair Darling declared yesterday, Mirror informs Oct. 22.

“Mr. Darling said: ‘The worst of the recession is behind us. A year ago, the world banking system and the global economy were staring into the abyss. Today, the financial system is more stable. Confidence is returning across the world economy, in a way few would have thought possible at the beginning of this year.’

Senior sources said the growth figures were expected to show a 0.2% rise in economic output in the last three months. It will end the six-month run of negative figures which defines a recession. The Chancellor added that now was the time to invest in creating jobs and economic growth to cut the nation's spiraling debt.

CBI business group said manufacturers expect rising output over the next three months.

Official figures earlier this week showed public borrowing at a record £77.3billion for the first six months of the financial year — and it is set to hit £175billion over 12 months,” Mirror reads.