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NAT: ECONOMY: GDP slumps as UK recession deepens

Britain is sliding deeper into recession. Output fell by nought point seven percent in the three months to June - a much sharper contraction than expected. The Jubilee and the recent downpours have had an impact. But the economy has now shrunk for three quarters in a row.

Programme:News At Ten
Reporter:Laura Kuenssberg
Reference:T25071203
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Source:DAM

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ENGLAND: London: EXT George Osborne MP (wearing hard hat) visiting Crick Institute construction site / building site with others George Osborne MP (Chancellor) interview SOT - no doubt these numbers are disappointing, even though unemployment is falling and inflation is coming down/ it confirms to me that we've got to deal with our debt problems at home whilst accepting the fact we've also got a debt crisis abroad/ of course the situation in britain is difficult but you can see in other countries that it could be a lot worse, so frankly, we've got to re-double our efforts to re-balance the econonomy and address those deep-rooted problems - (re possibility of change of approach) if you're saying to me this country should go out of its way to borrow more, to create more of a debt problem for this country, I think that would take us out of a difficult situation into a very much worse situation...

ENGLAND: London: EXT George Osborne MP (wearing hard hat) visiting Crick Institute construction site / building site with others George Osborne MP (Chancellor) interview SOT - no doubt these numbers are disappointing, even though unemployment is falling and inflation is coming down/ it confirms to me that we've got to deal with our debt problems at home whilst accepting the fact we've also got a debt crisis abroad/ of course the situation in britain is difficult but you can see in other countries that it could be a lot worse, so frankly, we've got to re-double our efforts to re-balance the econonomy and address those deep-rooted problems - (re possibility of change of approach) if you're saying to me this country should go out of its way to borrow more, to create more of a debt problem for this country, I think that would take us out of a difficult situation into a very much worse situation

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Construction worker operating concrete mixer lorry control on construciton site / building site Vincent Clancy (CEO, Turner & Townsend) interview SOT...

Construction worker operating concrete mixer lorry control on construciton site / building site Vincent Clancy (CEO, Turner & Townsend) interview SOT

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Crick Institute: George Osborne (wearing hard hat and luminous bib) talking with others during visit to Crick Institute construction site George Osborne interview SOT - I am 110% (one hundred and ten per cent) focussed on the economy, on making sure that we're creating jobs and opportunities for people/ I've got one job which is to be the Chancellor of the Exchequer, relentlessly focussed on the economy George Osborne along with others during visit to Crick Institute construction site...

Crick Institute: George Osborne (wearing hard hat and luminous bib) talking with others during visit to Crick Institute construction site George Osborne interview SOT - I am 110% (one hundred and ten per cent) focussed on the economy, on making sure that we're creating jobs and opportunities for people/ I've got one job which is to be the Chancellor of the Exchequer, relentlessly focussed on the economy George Osborne along with others during visit to Crick Institute construction site

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