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Robust public policies will determine the economic outlook for the UK

Policymakers must limit the spread of the virus while marshalling the right monetary and fiscal tools

By Jagjit S Chadha  

Photo: SOPA Images/SIPA USA/PA Images

The Covid-19 pandemic and the effects of the measures taken to protect lives continue to dominate the short-term global economic outlook. World growth has not only stalled this year but has moved significantly into reverse, and will take activity back to its 2018 level. Year-on-year growth in world income has hovered in the range of 3 to 4 per cent for three decades, and even in the worst year of the once-in-a-lifetime financial crisis it was barely negative, yet we now expect global output…

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