Britain's economy is likely to have a slower economic recovery rather than a quick bounce-back after its coronavirus shutdown, the head of the country's budget forecasting office said on Sunday.
Robert Chote, head of the Office for Budget Responsibility, said a scenario published by the OBR last month showing a quick V-shaped recovery was only meant to be illustrative to show the hit to the public finances.
"In practice I think you are likely not to see the economy bouncing back to where we would have expected it otherwise to be by the end of the year, on that assumption, but instead a rather slower recovery," he told BBC television.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Eight more Covid-19 deaths in Western CapeThe Western Cape now has 4 592 active cases of Covid-19, with a total of 7 586 confirmed cases and 2 857 recoveries.
Read more »
Confirmed Covid-19 cases in SA now at 13 524, with nine more deathsThe number of confirmed Covid-19 cases in South Africa has risen to 13 524, with 785 new cases and nine more deaths reported over the past 24 hours.
Read more »
SIU to go after Covid-19 linked corruption casesThe Special Investigating Unit (SIU) wants a national proclamation in order to go after corruption cases related to Covid-19 in SA.
Read more »
SIU to go after Covid-19 linked corruption casesIts head advocate Andy Mothibi revealed this to MPs during a meeting of the parliamentary justice and correctional services portfolio committee.
Read more »
Solidarity Fund spends R1.2bn on Covid-19 PPEThe fund, which has amassed R2.1bn to date, has also partnered with Phelophepa healthcare trains to ramp up coronavirus testing around the country
Read more »
Tobacco company BAT ready to test possible Covid-19 vaccine on humansBritish American Tobacco says it has submitted a pre-investigative new drug application to the US Food and Drug Administration
Read more »