Rishi Sunak Britain Spain pandemic record economy Rishi Sunak Britain Spain

UK economy hits record slump as calls grow for furlough to be extended

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dailyrecord.co.uk

coronavirus pandemic forced thousands of businesses to remain closed for several months.The 9.9 per cent fall marks the worst year for the UK economy since Gross Domestic Product, GDP, started being used as a record of performance after WWII.Last year's contraction is steeper than almost any other big economy, although Spain suffered an 11 per cent decline.Chancellor Rishi Sunak said the figures revealed the “serious shock” the pandemic has had on the economy.He added: “At the Budget I will set out the next stage of our plan for jobs, and the support we’ll provide through the next phase of pandemic.”But trade unions said with millions of jobs in the balance the chancellor had to act immediately to end “uncertainty and anxiety”.TUC General.

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