Osborne: Easing austerity policies would risk 'credibility'

Chancellor George Osborne has welcomed today's figures showing 0.3 percent growth, but added that the economy has a long way to go until it is healthy.

Asked if he would consider easing austerity measures in line with advice from the IMF and others, he said it was important not to change course because Britain risked "losing credibility".

Read: Osborne urged by IMF to consider changing austerity plans

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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".