The Voice

Vince on 0.2% growth: “the promised recovery is barely visible”

By | Fri 23rd April 2010 - 9:15 pm

It’s official: the UK economy has enjoyed a second quarter of growth, as the BBC reports:

The UK economy continued to recover from recession in the first three months of the year, according to official estimates. GDP grew by 0.2% between January and March, the Office for National Statistics (ONS) said.

Here’s what Lib Dem shadow chancellor Vince Cable had to say – in text:

These figures show that the promised recovery is barely visible. There is a real danger of the UK going into a double dip recession. As people deal with their own debts and as the banks continue to strangle good British businesses by starving them of credit the recovery will remain fragile.

“The British economy has had a massive heart attack – it has just emerged from the intensive care unit into the recovery ward. The worst possible action is the Tory proposal to pull out the drip-feed when the patient is still in a critical condition.

“Not only must we tackle the deficit in a considered and rational fashion, we must also ensure that we support jobs and infrastructure as well as making sure businesses get the credit they need to drive growth in the economy.”

And on video:

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