The Covid‐19 crisis promises to be as big a shock to the UK economy as the 2007‐08 financial crisis. The Office for Budget Responsibility recently published a scenario of the likely economic impact of the coronavirus shock to the economy. Making a number of assumptions, it suggested that real national income would fall by about a third in the second quarter of 2020. Public sector net borrowing would rise to about 14 per cent of national income, and this would be the highest annual deficit since the second world war. 1
One idea for relieving the economic effects of […]
Full Post at onlinelibrary.wiley.com