UK Back in Recession
UK Recession has returned after the economy shrunk by 0.2 percent in the first three months of 2012.
The Office for National Statistics (ONS) said the contraction was caused by a sharp fall in construction output.
BBC economics editor Stephanie Flanders said: “adds to the picture that the economy is bumping along the bottom.”
Prime Minister David Cameron said called the figures “very, very disappointing.”
He said: “I don’t seek to excuse them, I don’t seek to try to explain them away,” he said at Prime Minister’s Questions.
“There is no complacency at all in this government in dealing with what is a very tough situation, which frankly has just got tougher.”
The ONS said that government spending cuts were heavily contributing to a decrease in construction.
“The huge cuts to public spending – 25% in public sector housing and 24% in public non-housing and with a further 10% cuts to both anticipated for 2013 – have left a hole too big for other sectors to fill,” said Judy Lowe, deputy chairman of industry body CITB-ConstructionSkills.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
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Ricky worked as an Investigator in the Inland Revenue for over 20 years before founding Steedman & Company in 1987, giving him the experience and knowledge that enabled him to help so many clients over the years.
His appearance on a Channel 4 television programme about the inside workings of Revenue and Customs was watched by 4.1m which sealed his status as one of the most highly respected tax consultants to ever work in Scotland.
Ricky led all tax investigation and COP 9 cases, using his extensive knowledge to help people reach a positive resolution to their situation.
Ricky passed away suddenly and unexpectedly in June 2022 after leaving his indelible mark on the company he founded and headed for over 35 years.
