Chancellor Alistair Darling has reassured that Britain would emerge from recession around the turn of the year.

In spite of ongoing risks to the global economy, Alistair Darling is confident of country's return to growth and a sustainable recovery.

It is worth mentioning here that Germany, Japan and France have already pulled themselves out of economic slump.

Ahead of summit of G-20 ministers next month, he spoke his mind through the Guardian newspaper that the Government was ready to spend whatever possible to tackle recession and rising unemployment.

Mr. Darling added, "I am determined the recovery will be sustainable and lasting, that no one should be consigned to the scrapheap, like so many were in the recessions of the 80s and 90s."

Mr. Darling further said that UK was ready to commit 11 billion US dollars to assist the recession-hit emerging markets.

Recently, figures showed that UK economy contracted 0.7 per cent in the Q2 against the projected 0.8 per cent decline.

UK govt. has proposed 2p rise in fuel duty, while VAT will return to 17.5 per cent in January.