The pandemic has already resulted in over 500,000 deaths worldwide, and sharply lower growth as economies are shut down to fight the first wave of the virus. Necessary policy action in the form of lower interest rates, more QE and looser fiscal policy will have a long-lasting financial and economic effect. Unfortunately, the UK will perform worst than the global average fall of 4 to 6% in GDP this year, partly owing to its services-based economy. But the pandemic will also have long-lasting social and politic effects. Professor Williams will focus on aspects of these influences, with a bias towards understanding the impact on the UK.
Professor Trevor Williams is the former chief economist of Lloyds Bank, visiting Professor at the University of Derby, rotating chair of the IEAs Shadow Monetary Policy Committee, author of Trading Economics (with Victoria Turton), and writes a monthly column in Moneyfacts.
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