Thursday, 26 April 2012

"The deepest recession in living memory"

"It's a very tough economic situation. It's taking longer than anyone hoped to recover from the biggest debt crisis of our lifetime. The one thing that would make the situation even worse would be to abandon our credible plan and deliberately add more borrowing and even more debt," said the chancellor.
David Cameron admitted at Prime Minister's Questions that the return to recession was "very, very disappointing". "There is no complacency at all in this government in dealing with what is a very tough situation, which frankly has just got tougher," he said. "It is very difficult recovering from the deepest recession in living memory, accompanied as it was by a debt crisis." 
The Guardian: UK sinks into double-dip recession, April 25, 2012

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