British Economy Seen in ‘Biggest Crisis In 300 Years’

In his budget speech delivered in London yesterday, Britain’s Chancellor of the Exchequer Rishi Sunak said the country faced an “economic emergency“ which “has only just begun“ and will last for several years to come. Extra spending caused by the pandemic and the related furlough for the economy (shutdown) which would last into next March at least, will be £394 billion this fiscal year and not get below £100 billion in the next five years. Sunak called this the “biggest economic crisis in 300 years.“