The Chancellor should have built upon the solid 1.2% second quarter growth he inherited from Labour last year. Instead he is cutting too far and too fast - hitting families, costing jobs and making it much harder to get the deficit down. We're already borrowing £46 billion more than was expected this year.
For a Prime Minster who promised to 'get the economy moving again' today's GDP figures must be deeply worrying. They reveal growth of just 0.2% in the second quarter of 2011. Today we've heard the additional bank holiday due to the royal wedding, the wedding itself and the warm weather in April all being held up as reasons for this poor performance. Not so long ago, the Chancellor of the Exchequer came to the House of Commons and blamed the winter snow for Britain's shock plunge into negative growth at the end of 2010.