The UK economy has now returned to growth, albeit moderately, following the longest period of recession on record (six quarters) in which the UK economy contracted by 6.1%.
John McDonnell MP, LEAP Chair, said:
"The confirmation that the UK has emerged from recession is of course welcome, but the fragility of the economy and its vulnerability to a 'double-dip recession' cannot be under-estimated.
"Harsh public spending cuts and job losses would risk sending the UK into a prolonged recession, with the human misery of mass unemployment, poverty, and homelessness. This would be the nightmare of a Tory government."
Andrew Fisher, LEAP Co-ordinator, said:
"The recession is not over for the 2.5m unemployed and the 1.8m families waiting for housing. Nor is it over for the millions more who have reduced their hours or taken a pay cut during this recession.
"The risk of a relapse into recession is acute – with the UK banks still exposed to the US housing market, and consumer demand here weakened by unemployment, pay freezes and short-time working."