UK finance minister warns economy could shrink by 30%

UK finance minister warns economy could shrink by 30%

Britain’s finance minister has told colleagues the economy could shrink by up to 30% this quarter because of the coronavirus lockdown, a newspaper reported.

The Times newspaper reported that Rishi Sunak, the finance minister, had discussed with colleagues the possibility that Gross Domestic Product would shrink by 25 to 30 percent between April and June.
Times reported that Sunak and others were pushing for social distancing measures to be relaxed for the sake of the economy, while others were resisting because of the risk of exacerbating the coronavirus outbreak.
The number of COVID-19 deaths in hospitals across the UK has passed 10,000.

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