Daniel Harari

Latest statistics showing changes in UK productivity and comparisons of UK productivity with other G7 countries.

The coronavirus outbreak has impacted the UK economy in a number of different ways. The magnitude of the recession caused by the virus is unprecedented in modern times. While a recovery is underway, there is uncertainty over how fast economic activity will regain lost ground. This briefing examines the economic impact of the crisis to date and outlines the key issues for the outlook. It summarises policy measures introduced to mitigate the economic effects of Covid-19 and details the impact on the public finances.

The Chancellor will make a statement to the House on Wednesday 8 July. He will outline plans to support the economy. The Chancellor’s statement is being labelled as a ‘summer economic update’.

Analysis of the latest UK and international economic indicators

The magnitude of the recession caused by the coronavirus outbreak is now more evident.

Economic output fell by one fifth during April when lockdown measures were at their most stringent. This Insight will set the April GDP figures in context.

The coronavirus outbreak is causing significant disruption to the economy. Official economic data reflecting the initial impact was released in late April and May, but they won’t reflect the full impact of the virus and lockdown on the economy until late May and June. Until then, a range of other sources, such as business surveys and anecdotal information, can also be used to capture the impact of coronavirus on the economy. This briefing collates the economic data that is available into a single page.

Analysis of the latest UK and international economic indicators

It is clear the economy has entered recession.

Coronavirus will have a significant impact on the economy. This Insight looks at the relative importance of different sectors of the economy and their potential vulnerability.

What economic support have governments given to businesses and individuals to tackle the impact of the coronavirus? This paper looks at the policies put in place by the EU, governments in Europe, the US and other developed countries.

Spring Budget 2020 was presented by the Chancellor of the Exchequer to Parliament on 11 March. Once the Chancellor sat down the Office for Budget Responsibility (OBR) published updated forecasts in its Economic and fiscal outlook.

The Chancellor and the Bank of England have announced plans to support public services, businesses and workers.