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Worst UK slump in 'centuries' looms as lockdown slams business

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Britain may be in the grip of its worst economic slump in centuries, a Bank of England official warned, as the coronavirus lockdown pounded businesses this month with more force than even the most pessimistic forecasters had feared.

FILE PHOTO: Workers are seen as the sun sets behind a construction site in London, Britain, January 21, 2020. REUTERS/Henry Nicholls/File Photo

The government will need to issue 180 billion pounds of debt in the next three months alone to pay for the unprecedented measures launched to stem the collapse of the economy, the Treasury said on Thursday. It fell to record low of 12.9 from 36.0 in March - not even close to the weakest forecast in a Reuters poll of economists, a reading of 31.4. The picture was similar in France and Germany.

 

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Double whammy of Brexit followed by COVID.

What a Terrible headline you are supposed to be a top news organisation

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