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UK GDP slump shows deep-rooted problems-Osborne
July 25, 2012 / 8:50 AM / 5 years ago

UK GDP slump shows deep-rooted problems-Osborne

LONDON, July 25 (Reuters) - Britain’s finance minister George Osborne said official figures on Wednesday which showed worse than expected second quarter figures for British economic output were disappointing and confirmed the country’s deep-rooted economic problems.

“We’re dealing with our debts at home and the debt crisis abroad. We’ve made progress over the last two years in cutting the deficit by 25 percent and businesses have created over 800,000 new jobs,” he said in a statement.

“But given what’s happening in the world we need a relentless focus on the economy and recent announcements on infrastructure and lending show that’s exactly what we’re doing.”

Reporting by Michael Holden; editing by Tim Castle

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