Commenting on today's GDP figures, Co-Chair of the Liberal Democrat Treasury Spokesperson, Stephen Williams said:

"Today's positive GDP figures are another encouraging sign. Together with falling unemployment and inflation, these are signs that the economy is healing.

"The UK suffered a huge economic shock during the financial crisis. Liberal Democrats were clear when we joined the Coalition Government that it would be a choppy road to recovery but that we needed to create the right conditions to support growth and deal with the deficit.

"Today's news is positive but we are working hard to build a sustained and sustainable economic recovery. Only last week, Nick Clegg announced another £1bn worth of investment through the Regional Growth Fund, helping to create jobs across the country.

"Liberal Democrats know that what matters to people is not abstract numbers but the money they have in their pocket. That is why we have done the right thing to support people on low and middle incomes in these difficult times by lifting more than a million people out of paying Income Tax all together and giving nearly 25m people a £550 Income Tax cut since 2010."