LONDON (Reuters) - Chancellor George Osborne said an unexpectedly large fall in economic output in the second quarter of 2012 reported on Wednesday could not be excused by one-off factors like an extra public holiday to mark Queen Elizabeth’s 60th year as monarch.
“Of course there are one-off factors like the bank holiday but that’s not an excuse that I am using,” he told BBC television.
”Frankly, even without that, these would be disappointing numbers, and they just remind us Britain has some deep-rooted economic problems that are going to take time to solve.
“We’ve also got the debt crisis abroad and all these things of course make it a big challenge for our country,” he added.
Reporting by Tim Castle; editing by Stephen Addison