OBR: UK economy set to contract by more than a third in second quarter of year because of coronavirus [LINK]

BRITAIN’S economy could shrink by more than a third with another two million people added to the ranks of the unemployed if the coronavirus lockdown lasts for three months, the UK Government’s independent forecaster has suggested.

“That would be the largest single-year deficit since the Second World War,” said the Office for Budget Responsibility

But it also pointed out that after taking a possible 35 per cent hit in the second quarter of the year from April to June, the economy could bounce back quickly if there was a three-month gradual lifting of the imposed restrictions.