Displaying items by tag: crisis spending

Researchers calculate that £190 billion is needed to get the UK economy back on track – four times as much as the chancellor has committed so far, and a figure which broadly matches the ambition of US president Joe Biden’s new administration. This UK stimulus should be devoted to supporting businesses, workers, and households hardest hit by the pandemic, restoring public services and helping the growth of sustainable, ‘future-proof’ industries and jobs. The thinktank said, ‘Failure to deliver such a boost risks condemning the UK to a stagnation trap with about half the rate of economic recovery. It would mean lower business investment and leave unemployment at more than 10 per cent in spring 2022.’