George Osborne attacked Labour shadow Chancellor Ed Balls' record on the economy:
"He was the man more responsible than almost anyone else for what went wrong in the British economy."
"The prescription the the Labour Party offers is the same prescription that got us into this trouble," he said.
"This Coalition Government is taking a different approach, which is that Britain has to confront its problems.
"Rebalancing that economy, healing that economy is what we're all about."
Today's GDP figures are obviously good news, but the Chancellor is rightly cautious about the state of the recovery.
Underlying growth is a rather less impressive 0.3 per cent when the Olympics and bank holidays are taken into account.
Official figures are expected to confirm today that the UK economy has pulled out of recession. But future growth could remain slow.