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The OBR report is worth a quick speed read if you have 20 mins to kill

Updated: Jun 17

Q2 GDP down 35% on Q1, but bounces back quickly when lockdown is lifted


Govt net borrowing soars to £273bn, or 14% of GDP - far higher than at the worst of the 2008-9 crisis, which peaked at roughly 10% of GDP


Public sector net debt soars above 100% of GDP during the downturn, settling back at a still high 95%.


Govt's payroll scheme alone is likely to cost £14bn per month.


GDP falling 13% in 2020 would be worse than not only the financial crisis in 2008, but also worse than both world wars (per the OBR report!)





https://cdn.obr.uk/Coronavirus_reference_scenario_commentary.pdf


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