LONDON – UK Business Secretary Vince Cable has said that the
shock fall in UK Q4 GDP can be blamed on the exceptionally cold
pre-Christmas weather and there is no chance of the government changing
fiscal policy
“The government isn’t going to change its strategy, it’s absolutely
right. We inherited a very weak economy with an enormous budget deficit
if we weren’t dealing with it we’d be in a major fiscal crisis,” Cable
told Sky News.
The fourth quarter GDP data showed the economy contracted 0.5% on
the quarter, below even the most pessimistic of analysts’ forecasts.
–London bureau: +4420 862 7499; email: wwilkes@marketnews.com
[TOPICS: M$B$$$,M$$BE$,M$BDS$,MT$$$$]
