U.K. Chancellor of the Exchequer George Osborne

U.K. Chancellor of the Exchequer George Osborne

Chris Ratcliffe/Bloomberg

U.K. Chancellor of the Exchequer George Osborne's growth offensive coincides with a renewed test of his economic stewardship as data due this week shows if the U.K. has escaped another recession, just days after the country lost its AAA grade from a second ratings company.