Unemployment could soar under another lockdown
7 December 2021
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Energy and Environment
Annabel Denham writes for The Telegraph
6 December 2021
In the Media
Emily Carver writes for Conservative Home
8 December 2021
Lifestyle Economics
15 November 2024
Julian Jessop comments for iNews
Julian Jessop, IEA Economics Fellow, has commented on the severe effects that another lockdown could have on the UK economy.
Were another lockdown to be introduced to tackle the Omicron variant, Julian predicts that:
“A renewed lockdown could knock at least 3 per cent off GDP. Monthly GDP is about £200bn, so this would be £6bn per month.”
“The impact on unemployment would depend on the extent of any additional financial support from the Government but, in the absence of this, at least half a million jobs could be lost.”
Read the full article here.
Were another lockdown to be introduced to tackle the Omicron variant, Julian predicts that:
“A renewed lockdown could knock at least 3 per cent off GDP. Monthly GDP is about £200bn, so this would be £6bn per month.”
“The impact on unemployment would depend on the extent of any additional financial support from the Government but, in the absence of this, at least half a million jobs could be lost.”
Read the full article here.
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