UK is past the peak, says PM Johnson, promising lockdown exit plan UK Economy 

UK is past the peak, says PM Johnson, promising lockdown exit plan

By Ritu, Capital Sands Prime Minister Boris Johnson said on Thursday Britain was now past the peak of its coronavirus outbreak and promised to set out a plan next week on how the country might start gradually returning to normal life. In his first news conference since recovering from a serious case of COVID-19, Johnson sought to offer hope to weary Britons, but urged them to stick with lockdown restrictions that are hammering livelihoods and the economy. “I can confirm today that for the first time, we are past the…

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Business UK Economy 

UK economy could shrink by the most in 300 years in 2020

By Administrator_India Capital Sands Britain’s economy could shrink by 13% this year due to the government’s coronavirus shutdown, its deepest recession in three centuries, and public borrowing is set to surge to a post-World War Two high, the country’s budget forecasters said. In the April-June period alone, the economic output could plunge by 35%, with the unemployment rate more than doubling to 10%, the Office for Budget Responsibility said on Tuesday. A bounce-back may come later in the year if restrictions on public life to slow the spread of the…

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