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Page last updated at 13:11 GMT, Thursday, 8 January 2009

Nick Clegg
Nick Clegg reshuffles his frontbench team to prepare for a general election with moves for Simon Hughes and Steve Webb.

The Bank of England cuts rates to 1.5%, the lowest level in its 315-year history, as it continues efforts to help the economy.

The entire cabinet is in Liverpool for its third meeting outside London as Gordon Brown continues his regional tour.

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