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.
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.
The Liberal Democrat Chief Secretary to the Treasury Danny Alexander has said that today's GDP figures were "very disappointing". He also said the Coalition was not all about austerity, citing tax cuts for 24 million people and businesses.
Will the public accept Chancellor George Osborne's explanation on why the British economy is stalling?
The economy shrank by 0.7% between April and June, leaving Britain in the longest double-dip recession in more than 50 years.
New GDP figures out tomorrow will reveal whether the British economy has sustained its downward slide by shrinking between April and June