Latest statistics from the U.K.’s Office of National Statistics show the true cost of a full month of lockdown measures which led to the closure of all non-essential businesses.
Today’s economic data will make bleak reading for Prime Minister Boris Johnson who is facing mounting criticism for his handling of the pandemic even from inside his own government. The U.K has now logged 41,128 deaths from the coronavirus, the highest toll in Europe and second in the world behind the U.S., while facing an immense economic hangover from placing its economy on life support. Economic data for June is likely to show growth springing back as stores are allowed to reopen on June 15 but a key question will be how many job losses will be made permanent, and how more money will the British government and the Bank of England need to pump into lifelines to businesses and workers.
Iain Martin Forbes U.S. Staff
I joined Forbes as the European News Editor and will be working with the London newsroom to define our coverage of emerging businesses and leaders across the UK and Europe. Prior to joining Forbes, I worked for the news agency Storyful as its Asia Editor working from its Hong Kong bureau, and as a Senior Editor in London, where I reported on breaking news stories from around the world, with a special focus on how misinformation and disinformation spreads on social media platforms. I started my career in London as a financial journalist with Citywire and my work has appeared in the BBC, Sunday Times, and many more UK publications.