BREAKING NEWS

After GDP shock, UK's Cameron pledges to do more

By REUTERS

JULY 26, 2012 10:30

LONDON - British Prime Minister David Cameron pledged on Thursday to do more for the economy after GDP data released this week showed the economy had contracted more than expected in the second quarter of 2012.

"We've got to do more. We're going to roll up our sleeves and do everything possible to get business going in Britain, to get housing going, to get jobs going," he told the BBC during an interview at his Number 10 Downing Street residence.

"One of the things (the GDP figures) show is the extent of damage that was done to the economy in the boom-and-bust years. We were the ones with the most over-indebted banks, the most over-indebted households, and we had the biggest budget deficit of virtually any country in the world. It takes time to recover from there," he said.

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