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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]
Rishi Sunak says that the "economic emergency" caused by COVID-19 has "only just begun" during his Spending Review announcement to the House of Commons, as figures from the Office for Budget Responsibility show that the economy is forecast to shrink by 11.3% in 2020, the UK's biggest economic decline in 300 years. [203]
Leading British economic think tanks warned Thursday that whoever wins the general election expected this year will face some very tough choices on tax and spending if they want to make sure the ...
Rishi Sunak says that the "economic emergency" caused by COVID-19 has "only just begun" during his Spending Review announcement to the House of Commons, as figures from the Office for Budget Responsibility show that the economy is forecast to shrink by 11.3% in 2020, the UK's biggest economic decline in 300 years. [438]
The BoE expects economic growth to be ‘broadly flat’ through 2024 Interest rates – live: Economic growth subdued as rate hold will bring ‘little relief’ to Britons Skip to main content
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The UK government and each of the three devolved governments (in Scotland, Northern Ireland and Wales) introduced public health and economic measures, including new laws, to mitigate its impact. A national lockdown was introduced on 23 March 2020 and lifted in May, replaced with specific regional restrictions. Further nationwide restrictions ...
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]