British chancellor: Pandemic means smaller economy than once expected

Britain’s economy is predicted to be 3 per cent smaller than originally expected in five years time due to the coronavirus pandemic, says Chancellor of the Exchequer Rishi Sunak. During his budget speech, Sunak told lawmakers that the economy is forecast to grow this year by 4 per cent, by 7.3 per cent in 2022, then 1.7 per cent, 1.6 per cent and 1.7 per cent in subsequent years. The forecast was given by Office for Budget Responsibility, which tracks government spending. “While our prospects are stronger, coronavirus has done, and is still doing, profound damage,” he said. “As today’s forecas…

Read More

HEDGE accordingly