OBR report: Two million people could become unemployed from coronavirus impact on economy
Two million people could become unemployed as a result of the economic impact of the coronavirus crisis, financial experts have warned.
It was revealed in the Government’s daily briefing on Tuesday that the Office for Budget Responsibility has estimated that the economy could shrink by 35 per cent by June.
Across the UK, 778 people died in hospital on Tuesday, bringing the total number of deaths to 12,107, while 98,873 have tested positive for the virus. Of those, 493 cases have been in Suffolk.
West Suffolk Hospital in Bury St Edmunds has confirmed 17 patients have died of the coronavirus since it started recording.
“These figures are a powerful reminder to all of the importance of following the Government’s guidelines,” said Chancellor Rishi Sunak, who is assisted by South Suffolk MP James Cartlidge.
“It is an unprecedented time, an unprecedented crisis and that calls for an unprecedented response.
“That is why we have put in place some of the measures we have and I do believe these will limit the short term impact on our economy.
“Once we get through this we will have to make decisions on what to do at that point. We remain committed to the agenda we set before (the crisis).”