UK GDP figures revealed that the UK has plunged into a double-dip recession, putting more pressure on the shoulders of an already unpopular coalition government.
Figures from the Office for National Statistics showed that GDP decreased unexpectedly by 0.2% between January and March this year, following a 0.3% contraction in the fourth quarter of last year. A technical recession is defined as two or more consecutive quarters of economic decline. Pressure on the government to greatly increase efforts to boost the economy are at an all time high and it faces an immense battle to reduce Britain’s debt from record levels not seen since the 70s. The fall back into recession has seen many urge chancellor, George Osborne to ease up on his deficit-cutting plans. Prime Minister David Cameron offered his two cents on the matter at Prime Minister’s Questions admitting that the return to recession was “very, very disappointing”.
