UK Chancellor warns of “economic downturn” in 300-year downturn – BBC News

Chancellor Rishi Sunak explained the extent of the economic and financial crisis in the UK. He told parliaments that the fight against the pandemic has registered government indebtedness and caused the worst economic downturn in more than three centuries. There could be more than 2.5 million people out of work in the UK next year. This year the government will borrow nearly 400 billion euros, the highest ever in peacetime. Most public sector workers will get a pay freeze – except for NHS workers and those earning less than £ 24,000 a year. The UK Office for Budget Responsibility has estimated that the UK economy will shrink by more than 11% this year alone. Huw Edwards presents at BBC News Ten political editor Laura Kuenssberg and economics editor Faisal Islam. Please subscribe HERE http://bit.ly/1rbfUog .

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