December 10, 2012
The coalition has attempted to play down a warning by the business secretary, Vince Cable, that Britain faces the risk of a triple-dip recession.
In an interview with the Observer on Sunday, Cable said the UK falling into recession for the third time since 2008 was “certainly” and “clearly” a risk – although he said the “most likely” scenario was that the economy would continue “bumping along the bottom” broadly as the Office for Budget Responsibility has forecast.
Officials in both parties played down the significance of Cable’s comments. But the Treasury came close to slapping down the Liberal Democrat business secretary, saying bluntly: “It’s quite right for the independent OBR to make economic forecasts.”