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'Very disappointing' recession

The Deputy Prime Minister Nick Clegg has described the revised GDP figures for the first three months of the year as "very disappointing" after they revealed the double-dip recession is worse than previously estimated.

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'Small businesses more confident despite economy shrinking'

John Walker, the chairman of the Federationof Small Businesses, sounded a note of optimism despite today's disappointing GDP figures and the generally high inflation. He said:

Despite all this, confidence among small businesses has picked up, and this resilience needs to be supported by Government if they are going to make use of it to pull Britain back out of recession.

He said the Government needs to focus on job creation, business investment and on boosting consumer confidence.

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