Tuesday Finance Minister George Osborne said the British government implemented a policy on the right track but the UK still face difficulties in the economy. He said the day before delivering the first quarter GDP data.
UK economy still in difficult conditions even though the government already has policies in accordance with current economic conditions, the finance minister said Osborne at cabinet meeting on Tuesday. Told reporters at a regular briefing, spokesman for Prime Minister David Cameron said that Osborne has 24 hours to access key economic data such as predicting the first-quarter GDP will be released at 0830 GMT on Wednesday. Economists polled by Reuters have shown data that continues to decline and not in line with expectations. Britain wanted the day after the economic growth of 0.5% for the economy to offset a decline in the first quarter. It’s caused the last three months of 2010 Britain suffered a contraction of 0.5%.
Emphasis forward with the program quickly cut public spending when private sector demand conditions are not safe but did not do so raises a lot of criticism by opposition politicians to the British coalition governing Conservatives and Liberal Democrats. Osborne believes that the government’s economic policy was still on the right path. Therefore, he continues to adhere to and implement the policy, a spokesman for Cameron said.
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