Article preview: It’s a shocking prediction. With the death toll from COVID-19 now exceeding 10,000 in the UK, Chancellor Rishi Sunak has reportedly told colleagues the UK economy could contract by up to 30% this year. The worrying prediction comes a day after the number of UK hospital deaths passed 10,000, and the country faced the prospect of becoming the worst-hit European country. According to a report in The Times, Rishi Sunak raised the prospect of a 25-30% cut to GDP in the second quarter, between April and June.
Could the UK economy shrink by a third?
This 409-word blog post considers a report in The Times which says Chancellor Rishi Sunak predicts the UK economy could contract by up to 30% this quarter. Written on 13th April 2020.
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