Rishi Sunak says the government’s response to coronavirus is working, adding that the Office of Budget Responsibility are now forecasting a “swifter and more sustained recovery than expected”.
The economy will return to pre-Covid level by the middle of next year, he says.
However he adds that Covid-19 has done damage, warning the economy will be 3% smaller in five years than it would have been.
“The OBR forecast that our economy will grow this year by 4%, by 7.3% in 2022, then 1.7%, 1.6% and 1.7% in the last three years of the forecast.”
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