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NAT: ECONOMY: GDP slumps as UK recession deepens

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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
Note:Tape timecodes are in use for this item
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 ...

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...

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

! This clip is an original ITN news report, or rushes package. Please read our Disclaimer

!This clip is an original Reuters news report, or rushes package. Please read our Disclaimer

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