UK to face worst 300-year recession as Covid crisis continues – BBC Newsnight

The “economic emergency” caused by Covid-19 has only just begun, according to UK Chancellor Rishi Suna, who warned that the pandemic will cause lasting damage to growth and jobs. Please subscribe HERE

Official forecasts now predict the biggest economic downturn in 300 years. The UK economy is expected to shrink by 11.3% this year and will not return to pre-crisis size until the end of 2022. The Office of Budget Responsibility (OBR), an independent government announcer, expects unemployed people to rise to 2.6 million by the middle of next year. This means that the unemployment rate will reach 7.5%, the highest level of the 2009 financial crisis, with Newsnight editor Nick Watt and Lewis Goodall policy editor. #BBCNews #Newsnight #Coronavirus Newsnight is the BBC’s premier news and current affairs television program – with strong analysis, discussion, exclusivity and dialogue. Website: https://www.bbc.co.uk/newsnight
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