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UK growth falls to just 0.1%

Written on 06 Oct, 2011 at 01:06 by Jack Torrance
UK growth falls to just 0.1%

David Cameron’s government have been left to face up to tough questions in the wake of news that the UK’s economic growth is on a downward trajectory.  Figures released yesterday by the Office of National Statistics have revised down previous growth estimates for the 3 months to June to 0.1%.
The news is likely to spur on critics of the government’s controversial programme of public sector cuts, which some are blaming for the increasingly desperate state of the economy. Shadow Chancellor Ed Balls suggested that the government’s actions were the cause of economic difficulty. “David Cameron and George Osborne urgently need to realise that spending cuts and tax rises which go too far and too fast have hit consumer confidence, killed the recovery and pushed up unemployment,” he said.
The treasury attempted to deflect the criticism however, insisting that the UK needs to stick to it’s deficit reduction plan. “It is clear that the recovery was always going to be difficult. The Government will stick to the deficit reduction plan which has won the UK credibility and stability, but the most important thing for the economy now is restoring confidence, which will depend on the eurozone decisively dealing with its problems,” a spokesman said.

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