David Cameron backs George Osborne
David Cameron backs George Osborne
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David Cameron admits the coalition needs to work together better. |  |
Friday, 03, Aug 2012 09:37
By Lee Wagstaff
Prime minister David Cameron has leapt to the defence of under fire chancellor George Osborne.
In an interview with Sky News, Mr Cameron insisted that there would be no reshuffle in the Cabinet, as the pressure on Mr Osborne mounts.
There have been calls for William Hague to replace him as chancellor, but the prime minister was adamant that he was "not going anywhere".
Recent figures released by the Office for National Statistics showed the UK's gross domestic product (GDP) for the second quarter of 2012 shrank by 0.7 per cent, which was far worse than most economists were expecting.
A lot of fingers have been pointing at Mr Osborne since the results came to light, with some people suggesting that he has failed in his role.
His cause certainly won't be helped by the latest announcement from the National Institute of Economic and Social Research think-tank, which has predicted the UK's GDP to contract by 0.5 per cent in 2012.
This is a sharp drop from its zero per cent growth forecast in May.