UK Chancellor: Potential for a 30% drop in UK GDP – The Times
The Times reports that "the chancellor is said to have told colleagues that the nation’s GDP could fall by as much as 30 per cent between April and June as cabinet colleagues call for restrictions to be eased."
Lead paragraphs
Ministers said that Rishi Sunak discussed the possibility of a “25 per cent to 30 per cent” fall in the second quarter of this year.
City analysts have forecast an average 14 per cent contraction in the economy caused by the coronavirus lockdown, but some banks have predicted a drop of 24 per cent. The Treasury is conducting its own analysis which is yet to be completed.
Ten cabinet ministers are now pressing for the easing of the lockdown next month because they are concerned that the “cure” for the disease...
Meanwhile, UK coronavirus hospital death toll passes 10,000 on the day that British Prime Minister Boris Johnson left the hospital, one week after he was admitted with COVID-19. Johnson, who spent multiple nights in an intensive care unit, credited health staff for keeping him alive when, he said, "it could have gone either way. I have today left hospital after a week in which the NHS has saved my life, no question."
Author
Ross J Burland
FXStreet
Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.
