Public finances to see £100bn hit by 2024
A 5% reduction in the economy has been blamed for the financial hit.
A 5% reduction in the economy has been blamed for the financial hit.
GDP remains 9.2% lower than pre-pandemic levels.
Up to £26 billion could be lost.
Sunak hinted at possible tax rises to protect the public’s finances.
Businesses can claim the bonus from 15 February 2021.