Coronavirus warning: The UK has had its worst recession in 300 years – BBC News

The Bank of England has warned that the UK is heading for an unprecedented recession. He says the economy is experiencing the hardest annual contraction in 300 years because the pandemic coronavirus has significantly reduced jobs and incomes.

The governor of the Bank of England has said he expects the economy to contract 14%, which could be twice as low as the big blow of 2008 while unemployment could double to 9%, the Bank of England predicts the economy will return next time. year.

Meanwhile, the prime minister will make a public statement on Sunday outlining the next phases of the blockade and plans to alleviate it. But his government will move forward “with great caution,” Boris Johnson said.

Scottish Prime Minister Nicola Sturgeon has made it clear that he will not be pressured to act too early to ease the blockade, saying getting it right is “a matter of life and death”.

Sophie Raworth presents BBC News in ten reports by Faisal Islam’s Economic Editor and Laura Kuenssberg’s political editor.

Subscribe HERE

source