Britain’s return to recession is “very, very disappointing”, Prime Minister David Cameron said today, but he insisted the Government will stick to its programme of austerity and deficit reduction.
The Office for National Statistics today announced the 0.2% decline in gross domestic product (GDP) in the first quarter of the year which, after a fall of 0.3% the previous quarter, has triggered the UK’s first double-dip recession since the 1970s.
Labour leader Ed Miliband told the House of Commons that the figures were proof that the Government’s plan has failed, describing the downturn as “a recession made by the Prime Minister and the Chancellor in Downing Street”.
“Over the last 18 months since his catastrophic spending review, our economy has shrunk,” Mr Miliband said at Prime Minister’s Questions…
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