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Govt under pressure ahead of GDP announcement

Chancellor George Osborne could face pressure to ease Government cuts later today if official growth figures fail to show signs of recovery.

Economists are predicting the Office for National Statistics will announce growth figures of around 0.2 per cent for the second quarter of 2011, although some have suggested the figure could be negative.

The economy grew by 0.5 per cent in Q1 this year, although this was tempered by a 0.5 per cent fall in GDP in the final quarter of 2010.

Writing in the Sunday Telegraph this weekend, Osborne (pictured) insisted the Government would “go for growth” by cutting business taxes and “doing away with very high tax rates that only damage growth and businesses”.

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