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Page last updated at 07:39 GMT, Wednesday, 8 August 2012 08:39 UK

Private sector investment 'key' to recovery

The Bank of England is expected to react to the severity of the double-dip recession by lowering its growth forecast.

Sir Richard Lambert, former director-general of CBI, said he would be surprised if businesses started spending again anytime soon.

"The key is private sector investment," he told the Today programme, but question whether this investment is going to happen "without further government stimulus".

He believes it is time for the Chancellor to think about "tweaking" his recovery plan.

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