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Cameron claims "progress" is being made in UK economy

In his speech at the World Economic Forum, Prime Minister David Cameron has claimed that there are s

Figures released this week have shown that the UK economy shrunk in the last quarter of 2010 by 0.5%.

In his speech at the World Economic Forum in Davos, the Prime Minister David Cameron has insisted that his government is sticking to its course, arguing that,

"Given the traumas of recent years, the recovery was always going to be choppy."

Stating that there are signs of progress for the economy, Mr. Cameron highlighted the affirmation of the Triple A Rating and fall in market interest rates.

This week has seen criticism from Labour leader Ed Miliband, who blamed the government's deficit reduction programme for the disappointing figures.

Questions have also been raised by Mayor of London Boris Johnson.

In an interview with the Daily Telegraph, the London mayor asked Mr. Cameron to set out how he will cut rates of personal tax over the length of the parliament.