Worst recession in 50 years
Gross domestic product shrank by 0.7% between April and June, taking Britain into its longest double-dip recession for more than 50 years, official figures have revealed.
Cable concedes he would 'probably' be a good chancellor
The Business Secretary Vince Cable has said that he would "probably" be a good chancellor but stressed that he was not calling for a change in personnel.
He was responding to an earlier call by the Liberal Democrat peer Lord Oakeshott who said he should replace George Osborne, who he back-handedly praised for "doing well as a chancellor on work experience”.
Asked on BBC2's Newsnight whether he would make a good chancellor, he said: "I probably would, but George Osborne is doing the job, we're doing it together, well, as part of a team, and nobody's suggesting we change the arrangements."
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Osborne blames Labour as GDP shrinks again
Will the public accept Chancellor George Osborne's explanation on why the British economy is stalling?
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GDP figures show worst double-dip recession in 50 years
The economy shrank by 0.7% between April and June, leaving Britain in the longest double-dip recession in more than 50 years.
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Can the British economy sustain this downward slide?
New GDP figures out tomorrow will reveal whether the British economy has sustained its downward slide by shrinking between April and June