The government’s change of heart on job support came too late – after many redundancies had already been madeBritain’s economic recovery is running out of steam. Even before the launch of tough new restrictions as the second wave of Covid-19 spreads across the country, the rebound from the first lockdown appears to have fallen significantly short. Figures released last Friday showed that gross domestic product (GDP) in August rose by 2.1% on the previous month – half the rate expected by City economists. Despite a rapid rebound earlier in the summer, and a boost from the “eat out to help out” scheme, the UK economy remains some 10% below its pre-pandemic level.
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