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UK economy suffered biggest fall 'since 1709 Great Frost' in 2020 with GDP down 10%

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www.mirror.co.uk

The UK economy experienced its lowest slump since the Great Frost in 1709 last year, as the coronavirus crisis forced tens of thousands of businesses to close and pushed millions out of work.

Gross domestic product (GDP) dropped by 9.8%, according to data from the Office for National Statistics, but, the figures are a significant improvement on April's 20% crash.

The fall was linked to two national lockdowns and widespread disruption triggered by the Covid crisis, which, combined, triggered a dramatic fall in GDP.

Speaking on Friday, Chancellor Rishi Sunak confirmed further support would be announced in his March Budget 3 - when the government will also reveal how it plans to repay £400billion worth of national debt.

Read more on mirror.co.uk
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