What does the biggest economic slump in 300 years mean for Britain?

As the chancellor announces plans to extend the unprecedented scheme to pay the wages of millions of workers, whole sectors of the economy remain shut because of Covid-19, causing a recession unseen in Britain for centuries. Larry Elliott explains what it will mean for the country

The coronavirus lockdown has resulted in the UK's biggest economic downturn for 300 years, with shops shuttered, factories closed and millions of workers told to stay at home while the government pays their wages.

Now, with restrictions beginning to lift, the Guardian's economics editor, Larry Elliott, tells Anushka Asthana that the economic damage is becoming apparent. For once thriving businesses, such as the independent bakery Sable d'Or in north London, the future appears bleak. Its owner, Mohamed Ladjassa, tells us how he was forced to cut staff as customer numbers dwindled.