Chancellor plays down hopes of quick economic recovery

Rishi Sunak warns UK facing recession the likes of which we haven't seen' due to Covid-19 crisis

The chancellor, Rishi Sunak, has warned that Britain is facing a severe recession, the likes of which we haven't seen" and lasting economic damage from the coronavirus pandemic.

In a downbeat assessment of the country's economic prospects after a sharp rise in unemployment benefit claims, the chancellor warned a Lords committee it was not obvious there will be an immediate bounceback" from recession.