By Matthew Roscoe • 09 November 2020 • 12:28
BREXIT Britain could face a five to ten-year COVID recovery period, according to advertising supremo Martin Sorrell.
Speaking on Monday, November 9, Sorrell said that the long recovery time would be because the financial hit from the virus is likely to absorb economic firepower needed to rebuild from Brexit.
“It is going to take a long time for the UK to recover unfortunately,” Sorrell, the founder of the world’s biggest advertising company WPP and one of the longest-serving chief executives of British listed companies, told Reuters.
“It’s going to be a tough 5 to 10 years, we’re going to be 5 to 10 years before the economy fully recovers from the Brexit withdrawal and the industrial changes that will need to take place, to re-skill, to re-educate, to invest in the necessary infrastructure.”
Britain, preparing to finally leave the European Union on December 31 with no future trade deals secured, has recorded the worst death toll in Europe and has pumped more than £200 billion (€221 billion) into the economy to keep it afloat.
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Originally from the UK, Matthew is based on the Costa Blanca and is a web reporter for The Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]
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