March 18, 2020
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3:34Now PlayingThis is an economist's instant reaction to the government's £330 billion package announcement.
Chancellor Rishi Sunak announced there will be an "unprecedented" £330 billion package of government-backed loans to be made available to businesses by the end of this week. The Prime Minister said his government will do what "any wartime government" would do to protect the economy.
Economist Professor D'Maris Koffman said this announcement is without a doubt unprecedented £330 billion package, particularly the size of it and how they are taking "bold action."
"I think the key issue that people have raised here is how realistic is it that these loans will be paid back? And I think that what's probably coming down the line is a partial loan forgiveness.
"I don't think that package will end up performing in quite the way they anticipated ahead of time."
#EddieMair #Coronavirus #LBC
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