Wednesday, February 21

British Chancellor warns of hard times


 

 

Rishi Sunak today warned of “hard times ahead” as the UK was officially declared to be recession after the coronavirus pandemic sent the economy plunging by 20.4 per cent between April and June.

The Office for National Statistics (ONS) confirmed the UK’s nosedive into recession for the first time since the financial crisis after the record-breaking contraction in the second quarter, which follows a 2.2 per cent fall in the previous three months .

After the GDP figures were revealed, the Chancellor said: Hundreds of thousands of people have already lost their jobs, and sadly in the coming months many more will. But… we will get through this.

It came as education minister Nick Gibb defended the Government’s last-minute changes to GCSE and A-Level exam results, which mean students will be able to use mock exam grades if they are higher than those given by moderators.