By Lizzie Day • 14 April 2020 • 20:24
Chancellor Rishi Sunak defends the government’s decision to force all non-essential businesses to remain shut after a predicted fall in GDP due to the coronavirus pandemic.
He said tough times were ahead but the UK’s economy would quickly recover when lockdown restrictions are lifted and the situation would have been worse had the government not borrowed high amounts to support businesses though the crisis.
The independent Office for Budget Responsibility (OBR) predicted a 35 per cent fall in GDP if lockdown remains in place for three months with another three months of relaxed restrictions.
But they remain confdent the country will recover and the government’s coronavirus job retention scheme would soften the blow.
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