Figures released today show the UK economy has shrunk once again, prompting renewed calls for the Chancellor to change his economic plans.
Despite three months of slight growth in 2012, the last quarter saw a 0.3% drop. It means the country is edging ever closer to an unprecedented triple dip recession.
ITV News' Deputy Political Editor Chris Ship reports.
Business leaders at the World Economic Forum cautioned against complacency amid optimism that the eurozone is emerging from its crisis.
The Chancellor blames GDP figures on the crisis he inherited, and troubles abroad. As criticism mounts, his position becomes more difficult.
Unusually frank words for the government from one of the City's top economists on today's dismal GDP figures.