Thinktank predicts £800bn hit to economy in UK over next 10 years
by Phillip Inman from on (#52RWB)
NIESR also says impact of coronavirus will lead to spike in unemployment to above 10%
Britain's economy is likely to lose out on 800bn of income over the next 10 years as the lockdown and a spike in unemployment leave deep scars on the private sector, a leading thinktank has warned.
The National Institute of Economic and Social Research (NIESR) said it expected the economy to bounce back next year, but not to its previous level and with the unemployment rate still above 5% after hitting 10.5% this year.
The UK government has said that these five tests have to be met before they will consider easing coronavirus lockdown restrictions:
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