A new winter of discontent?
Friday, 24 October 2008 5:33 PM
The UK is on the verge of a new winter of discontent, opposition parties have said.
The comments come as new figures show the UK economy contracting by 0.5 per cent, meaning the country is officially on the verge of recession.
"This confirmation that we are heading for a recession puts a name to the fear that many people have been feeling for months," Mr Clegg said.
"With millions of people worrying about how they will afford to get through the next six months, we may well be on the edge of a new winter of discontent."
The figures were far worse than analysts had expected and signal that the credit crunch's effects on the real economy have hit hard and faster than predicted.
Shadow chancellor George Osborne said: "Everyone was expecting a bad figure but this is much worse.
"It shows that millions of British families are in for a very difficult time in the months ahead."
Gordon Brown said: "We're determined to do everything we can to help people."
Both opposition parties tried to pin the blame for the economy on the prime minister.
"Gordon Brown consistently failed to listen to the Liberal Democrats when we warned him that borrowing was getting out of control," Mr Clegg said.
Mr Osborne said: "It is a defining moment in the record of Gordon Brown.
"The day that we can all see that the central claims he made over ten years, that he had abolished boom and bust and therefore didn't need to set aside money for a rainy day has been shown to be completely false."
Between July and September and economy shrank by 0.5 per cent, following zero per cent growth in the preceding quarter.
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