The latest growth figures are disappointing

But I think a blip rather than a trend. Snow and negative sentiment about Vat rises probably have more effect than we realise.

I haven't noticed that huge a jump in prices this year, maybe prices were already higher at the end of last year - which would mean that the increase in VAT would have less impact on this quarter.

I know that I am predisposed towards believing that the coalition has got the economy right, but I think that growth will rebound in the next quarter figures. I also, by the way, believe that these figures will be revised upwards.

So cheer up, it will get better.

Squiffy.