" Shock figures published on Wednesday showed that the UK's gross domestic product fell by 0.7 per cent, for the third quarter in a row and by much more than the 0.2 per cent expected by forecasters.
The figures mean that Britain is enduring the longest double dip recession for more than 50 years.
Lord Oakeshott, who is close to Liberal Democrat Business secretary Vince Cable, said figures were “dismal” and the economy was in “cold storage”.
The peer suggested that Mr Cable should be appointed Chancellor in Prime Minister’s reshuffle, which is widely expected in September.
He said that Mr Osborne did not have enough experience outside Government to run the Treasury, insisting that the UK needed its “A-team at the Treasury”. "
'Work experience Chancellor' George Osborne should be moved in reshuffle, says senior Lib Dem - Telegraph
I concur.
Comment