The state has had to rescue the economy twice in twelve years. The Covid-19 pandemic will cost the government hundreds of billions of pounds and the economy may shrink by up to a third. The present crisis is likely to do much more damage than the earlier 2007-8 financial rescue as it affects all parts of the economy – even Richard Branson is looking for a loan from the state.
Rishi Sunak, the UK Chancellor has said that he will spend ‘whatever it takes’ to support the NHS and the economy. He has wiped the NHS debt of £13.4 billion, […]
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