Coronavirus: UK must ramp up public spending in 'wartime situation' – budget watchdog head
by Richard Partington Economics correspondent from on (#50TPB)
OBR's Robert Chote says now is the time to spend without regard for the national debt
The head of the Treasury watchdog has said Britain faces a "wartime situation" and must urgently raise public spending to support households and businesses through the coronavirus outbreak, even if public borrowing dramatically balloons.
Robert Chote, the head of the Office for Budget Responsibility, said the economy was "probably shrinking as we speak" - with damaging consequences for the public purse - but that now was the time to spend without regard for the national debt.
Symptoms are defined as either:
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