The UK’s fiscal watchdog has said more than two million people could lose their jobs because of the coronavirus lockdown.
According to Evening Standard, considering the situation at hand, the Chancellor Rishi Sunak, disclosed that “tough times” lay ahead.
With close reference to the Chancellor’s claims, the Office for Budget Responsibility (OBR) revealed that, unemployment could rise from 1.3 million to 3.4 million, leaving about one in 10 of the working population without a job,
Speaking further, Sunak said not every business or household could be protected from the impact of the Covid-19 pandemic, but stressed that a “bounceback” would come when the crisis eases.
Coincidentally, Sunak’s remarks came yesterday evening in the government’s daily coronavirus briefing, on the same day the OBR said the economy could shrink by 35 per cent between now and June.
It came as ministers faced pressure from Labour to publish their lockdown exit strategy and the death toll for patients in hospitals who tested positive for Covid-19 rose above 12,000.