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The Health Protection (Coronavirus, Restrictions) (England) (No. 4) Regulations 2020 (SI 2020/1200) is an English statutory instrument made on 3 November 2020 by the Secretary of State for Health and Social Care, Matt Hancock, in response to the COVID-19 pandemic.
The most recent monthly figures show the government borrowed £11.2bn in November 2024, which was £3.4bn lower than the same month last year and the lowest November figure since 2021.
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]
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]
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 COVID-19 Genomics UK Consortium will deliver large-scale, rapid whole genome sequencing of the virus that causes the disease and £260 million to the Coalition for Epidemic Preparedness Innovations to support vaccine development. [142] [143] In April, the UK Government launched a task force to help develop and roll out a coronavirus vaccine.
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%.