Reuters: US Dollar Report: Clegg says time to shift UK economy up a gear

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Clegg says time to shift UK economy up a gear May 24th 2012, 13:15 BERLIN | Thu May 24, 2012 9:15am EDT BERLIN May 24 (Reuters) - British Deputy Prime Minister Nick Clegg said on Thursday data showing Britain's economy shrank more than expected in the first quarter underlined the need to accelerate efforts to free up investment and credit. "The revision of the growth figures for the first quarter was very disappointing," he said during a visit to Berlin. "I think it is the moment to really shift up a gear to ensure that, as we maintain market confidence in our plan to balance the books and rid the UK of its structural deficit, we do more to... act as a guarantee to mobilise more investment in infrastructure and housing and get more credit to the real economy," he said in a speech.

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