Danny Alexander defends Treasury despite 'very disappointing' GDP figures

The Liberal Democrat Chief Secretary to the Treasury Danny Alexander has said that today's GDP figures were "very disappointing". He also said the Coalition was not all about austerity, citing tax cuts for 24 million people and businesses.

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Worst recession in 50 years

Gross domestic product shrank by 0.7% between April and June, taking Britain into its longest double-dip recession for more than 50 years, official figures have revealed.