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Just like with America the UK economy crumbling as coronavirus deaths mount
Ministers have been struggling to explain high death rates, limited testing and shortages of protective equipment.
![Britain's healthcare workers remain on the front lines as coronavirus continues to claim hundreds of lives each day [Phil Noble/Reuters]](https://i0.wp.com/www.aljazeera.com/mritems/imagecache/mbdxxlarge/mritems/Images/2020/4/23/5a88d3bdc367443c95b5081c8307350d_18.jpg?ssl=1)
MORE ON UNITED KINGDOM
- ‘A very sad day’ as coronavirus deaths in UK hospitals top 20,000today
- EU and UK fail to bridge gaps in Brexit talksyesterday
- Calls grow for UK to extend Brexit transition amid pandemic2 days ago
- London charity: Virus layoffs force families into poverty2 days ago
The United Kingdom‘s economy is crumbling under the strain of the coronavirus lockdown and government borrowing is soaring to the highest levels in peacetime history, increasing pressure on the administration to set out an exit strategy.
Prime Minister Boris Johnson, recuperating at his country residence after being seriously ill with COVID-19, is facing criticism from opposition politicians and some epidemiologists for reacting too slowly to the novel coronavirus outbreak.
More:
- Calls grow for UK to extend Brexit transition as coronavirus crisis bites
- UK presses ahead with points-based immigration plan amid pandemic
- UK diplomat in U-turn over EU ventilators ‘political decision’
With the number of deaths in hospitals hitting 18,738 on Thursday, a single-day rise of 616, ministers are working to roll out a mass testing and tracking programme to try to reduce the rate of transmission and possibly ease stringent measures that have all but shut the economy.
The official figures are thought to be undercounting the true death toll by several thousand, as they do not account for non-hospital deaths, or those who have died in the community without being tested for coronavirus.
| London charity: Virus layoffs force families into poverty [3:14] |
Ministers have been struggling to explain high death rates, limited testing and shortages of protective gear, and the reality of the damage to the world’s fifth-largest economy hit home on Thursday.
“We are experiencing an economic contraction that is faster and deeper than anything we have seen in the past century, or possibly several centuries,” Bank of England interest-rate setter Jan Vlieghe said.
The recovery, he said, was unlikely to be swift.
The IHS Markit/CIPS Flash UK Composite Purchasing Managers’ Index (PMI) fell to a new record low of 12.9 from 36.0 in March – not even close to the weakest forecast in a Reuters poll of economists that had pointed to a reading of 31.4.
The UK will issue 180 billion pounds ($222bn) of government debt between May and July, more than it had previously planned for the entire financial year.
The country’s debt mountain exceeds $2.5 trillion and its public sector net borrowing could reach 14 percent of gross domestic product this year, the biggest single-year deficit since World War II.
A Reuters poll of economists on Thursday pointed to a roughly 13 percent contraction in economic output in the current quarter, which would be the largest since records began after World War II……more here
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