Speaking in Parliament today, Chancellor Rishi Sunak said that he would continue to ‘do whatever it takes’ during the pandemic.
The Government was borrowing ‘an amount comparable only to the amount we borrowed during the world wars’, he said, announcing an extra £65 billion extra in borrowing this year and next.
In total the Government will have borrowed £400bn to support the country during the coronavirus pandemic.
Mr Sunak said that 700,000 people have lost their jobs during the pandemic, and the economy has shrunk by 10 per cent - the largest fall in 300 years.
‘It’s going to take this country, and the whole world, a long time to recover from this extraordinary economic situation. But we will recover,’ he said.
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