The Covid-19 epidemic has shaken the UK economy badly. According to the Office of National Statistics (ONS) here, the British economy has recorded a decline of 9.9% in 2020. The British economy has faced such a decline after more than 300 years. Britain's agrarian economy collapsed at that time due to a severe cold wave in 1709.
According to the modern record of statistics, it has seen the biggest decline so far. Since the Second World War, data collection based on the gross domestic product (GDP) started. The fall in 2020 is also being estimated that it has increased twice as much as the fall of the 2009 economic recession.
However, among these alarming figures, British Finance Minister Rishi Sunak has spoken about some good signs. The coming months are pointing to more steps to give relief to the economy in its budget statement. He said, 'Statistics are showing how the economy has suffered a setback due to the epidemic. The whole world has faced it. Some positive signs of a return to the economy are also showing. As on March 3, he has assured to bring new schemes in his budget to save jobs and give momentum to the economy.
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