Figures published by the independent Office of National Statistics yesterday, show that the UK economy has begun growing again, with GDP growth estimated at 0.1% for the last quarter of 2009.At the same time, a report by experts at the International Monetary Fund (IMF) warned against withdrawing government support from the economy too soon.
Whilst there is no doubt that this is good news, there can be no room for complacency as NW Regional Minister Phil Woolas explains:

This is good news for the North West and for Britain, but also a reminder that there is no room for complacency. The Labour Government will continue to do everything we can to protect communities across the North West and keep the economy growing. During this difficult period, Labour is taking action to help people in the North West back into work and to support local businesses.
We introduced the ‘Time to Pay’ scheme, which allows struggling companies to postpone tax payments and helps keep businesses afloat. We will continue to help local people who have lost their jobs to stay in their homes through our mortgage support schemes. While these figures suggest Labour’s economic policy is working, we will continue to take action to strengthen growth and promote jobs. As the IMF has said, while the economy is still recovering, it is crucial that the Labour Government maintains support for the local economy here in the North West and nationally. Today’s news underlines how dangerous it would be to throw caution to the wind, as the Tories propose, and make deep cuts now.