The UK is entering a new phase of the Covid-19 pandemic.
Death rates and new cases are falling, and lockdown measures have begun to ease, so the economy can now start to recover. Last week, the government announced that the UK had moved to Covid-19 alert level three – the virus is considered to be ‘in general circulation’ but not rising.
With shops opening and the hospitality sector gearing up to open next month, it feels like we are finally seeing light at the end of the tunnel.
But just how long is the tunnel?
The Organisation for Economic Co-operation and Development, which assesses economic progress and world trade, says the crisis will cast a long shadow over the world, triggering the ‘most severe recession in nearly a century’. The UK’s economy is likely to fall by 11.5 per cent in 2020, a figure higher than other European countries,...