OBR Scenario Shows 35% GDP Fall This Quarter

A new scenario just released by the OBR shows the cataclysmic effect Coronavirus could have on the UK’s economy, including a 35% fall in GDP in the second quarter of 2020 and a possible 10% rise in unemployment, up to two million. The biggest quarterly contraction on record…

The figures from the OBR aren’t designed to be predictions, rather they model a Coronavirus scenario illustrating the possible effects on the economy and public finances.

Whilst the model includes a rapid bounce back to growth, it also sees public sector borrowing reaching £273 billion this fiscal year, amounting to 14% of GDP. The largest single-year deficit since the second world war, and 3% higher than the deficit inherited by the Tories in 2010…

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mdi-timer April 14 2020 @ 12:30 mdi-share-variant mdi-twitter mdi-facebook mdi-whatsapp mdi-telegram mdi-linkedin mdi-email mdi-printer
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