UK economy shrinks 2% due to coronavirus crisis in worst fall since 2008 - News Summed Up

UK economy shrinks 2% due to coronavirus crisis in worst fall since 2008


The latest figures show the first direct effect of the Covid-19 pandemic on the UK economy after the country was placed in lockdown to control the spread of the virus. But with the lockdown only coming into place on March 23, the second quarter will show the full hit on the economy after the UK ground to a standstill. There is a clear tension between this dash for growth and public health, as illustrated by the government’s eagerness to get workers back to workplaces regardless of whether it is safe. “The evidence shows that the vast majority of the public think we should worry more about people’s health and wellbeing than GDP growth during this crisis. The government should not pay too much attention to today’s statistics and instead put public health ahead of private wealth.”


Source: Daily Mirror May 13, 2020 06:23 UTC



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