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The UK government had developed a pandemic response plan in previous years. In response to the first confirmed COVID-19 cases in January 2020, the UK introduced advice for travellers coming from affected countries in late January and February 2020, and began contact tracing, although this was later abandoned. [1]
On 28 March, Fitch Ratings downgraded the UK's government debt rating from AA to AA−, because of coronavirus borrowing, economic decline, and lingering uncertainty over Brexit. The ratings agency believed the UK's government deficit for 2020 might equal 9% of gross domestic product (GDP), compared to 2% the previous year. [87]
1 September – Revised data from the Office for National Statistics for the final three months of 2021 indicate the UK economy grew more strongly following the pandemic than had previously been suggested, with figures showing an 0.6% increase rather than a 1.2% decrease.
Britain faces a hole in its budget, with fears cheap borrowing and eventual recovery may not fully close the gap in years to come. Coronavirus: What it means for UK government borrowing and taxes ...
The Office for Budget Responsibility forecasts the cost to government of combating COVID-19 pandemic has risen to £123.2bn, with annual borrowing estimated to be 15.2% of the UK economy. This figure is the highest annual borrowing since the end of World War II when it stood at 22.1%.
The government is spending more on public services than it raises in tax. To bridge this gap it borrows money, but this has to be paid back - with interest - and that can influence wider tax and ...
The ONS estimated that full-year public sector net borrowing was £120.7 billion in 2023-24, £6.6 billion more than predicted. UK annual government borrowing higher than forecast in blow to ...
The UK-wide COVID Symptom Study based on surveys of four million participants, endorsed by authorities in Scotland and Wales, run by health science company ZOE, and analysed by King's College London researchers, [2] publishes daily estimates of the number of new and total current COVID-19 infections (excluding care homes) in UK regions, without ...