Nick Clegg: 'Time to shift up a gear on economy'
24 May 2012 Last updated at 18:22 BST
The UK economy shrank by 0.3% in the first three months of the year - more than previously thought, revised figures have shown.
Last month's initial estimate from the Office for National Statistics (ONS) showed a contraction of 0.2%.
The downward revision was due to a bigger contraction in construction output than previously estimated.
Speaking to Newsnight, Deputy Prime Minister Nick Clegg said it was time to "shift up a gear".