Economy of the United Kingdom
Some companies will have to move operations to the EU due to trade barriers, Office for Budget Responsibility says.
The UK economy has been badly hit by the coronavirus epidemic and is predicted to contract by 11.5% by the end of the year. With many businesses closing down and the furlough scheme ending in October, unemployment is expected to soar to record highs. Here we speak with Edward Cartwright, professor of economics at De Montfort University about the future prospects for workers in the UK and hear from Ryan Ward who was recently let go from his job in Glasgow despite being on the furlough scheme.
According to the ONS, the economy fell by 2.2% – the largest drop since 1979.
UK economy shrinks and Tui announces major job cuts.
GDP could also fall by 35% in second quarter of 2020 but would "bounce back quickly", analysis by the Office for Budget Responsibility suggests.
The bank's governor warned that a recession could follow.
Leading Tory backbencher backs 'world trade deal'.
'You've passed your productive peak.'