George Osborne: 'We are making progress'

The Treasury have tweeted reaction to the latest GDP figures:

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Chancellor:“Today’s figures are an encouraging sign the economy is healing. Despite a tough economic backdrop, we are making progress. (1/4)

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The deficit is down by a third, businesses have created over a million and a quarter new jobs, and interest rates are at record lows. (2/4)

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We all know there are no easy answers to problems built up over many years, and I can’t promise the road ahead will always be smooth…(3/4)

Finally the Treasury tweeted: "…but by continuing to confront our problems head on, Britain is recovering and we are building an economy fit for the future."

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UK avoids triple-dip recession

A triple-dip recession has been averted as the economy grew by 0.3% in the first three months of the year, according to preliminary estimates. The Chancellor George Osborne has said it is "an encouraging sign the economy is healing".