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UK triple-dip recession looms

Chancellor George Osborne has vowed not to "run away" from Britain's economic problems amid fresh signs the UK is heading for an unprecedented triple-dip recession.

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CBI: Economy likely to remain flat through winter

The head of the Confederation of British Industry (CBI) gave this reaction to today's release of GDP figures for the fourth quarter of 2012:

After a difficult year, the UK economy has ended on a disappointing note.

We think growth will continue to be fairly flat through the winter but momentum will gradually build later in the year, as the global economy picks up a little and confidence lifts.

– John Cridland, CBI Director-General

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