Channel 4 News
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Chancellor Rishi Sunak warns UK economy will shrink by 11% this year
Posted
November 25, 2020
Views
42,483
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392
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Engagement
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November 25, 2020
42,483
392
321
1.68%
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10:29Now PlayingThe chancellor, Rishi Sunak, has spelled out the devastation inflicted on the economy by coronavirus.
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Announcing his spending review in the Commons, he warned: “The economic emergency has only just begun."
He published statistics showing that the nation's finances have been damaged in a way not seen for decades, if not centuries. And he predicted a steep rise in unemployment by next year.
In the first sign of the tough remedies likely in the future, he did away with the commitment to spend 0.7% of GDP on overseas aid.
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