BBC News – UK economy suffers 0.5% contraction

But Chancellor George Osborne said the government would not change its austerity programme.

“These are obviously disappointing numbers, but the ONS has made it very clear that the fall in GDP was driven by the terrible weather in December,” he said in a statement.

“There is no question of changing a fiscal plan that has established international credibility on the back of one very cold month. That would plunge Britain back into a financial crisis. We will not be blown off course by bad weather.”

We’ll see.

1 thought on “BBC News – UK economy suffers 0.5% contraction

  1. Work Experience Boy George needs to ask Alan Johnson if he can borrow Economics for Dummies now that it’s not needed on the opposition benches.

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