14 April 2020

Today, the Office of Budget Responsibility published a report outlining the potential damage to the UK economy of a possible three-month lockdown.

Among other findings, the report states that there could be a fall of 35 per cent in the UK’s real GDP figure and that unemployment could rise by two million to 10 per cent of the workforce.

Commenting, Scottish Labour Leader Richard Leonard said:

“ The coronavirus pandemic has already had huge repercussions for our economy, and, as this report makes clear, we are now entering uncharted economic waters.

“With the prospect of GDP falling by 35 per cent and unemployment rising drastically, it is clear that state intervention in the economy is needed more than ever.

“ This is a time, above all, for co-operation, collectivism, and mutual support. The UK and Scottish Governments must explore all avenues possible to protect our economy and protect the livelihoods of the people of Britain in the coming months.

“This is not a time for timidity: this is a time for action.”
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