UK's Hunt: "extremely difficult" decisions needed for economic stability

British finance minister Jeremy Hunt said on Friday that "extremely difficult" decisions were required to restore confidence and economic stability, after data showed that the economy shrank in the third quarter.

"I am under no illusion that there is a tough road ahead – one which will require extremely difficult decisions to restore confidence and economic stability," Hunt said.

"But to achieve long-term, sustainable growth, we need to grip inflation, balance the books and get debt falling. There is no other way."