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The economy that fell to Earth

My institute’s new analysis confirms that we face an “off the scale” economic crunch. How to respond?

By Jagjit S Chadha  

Photo: Chancellor of the Exchequer Rishi Sunak

A sombre day at the virtual Institute last Thursday. We had been working through the numbers for an assessment of economic prospects in the time of lockdown. The economy has been used as a tool to control the spread of this terrible virus and the result is that we are facing the worst quarterly outcome in modern times, which will be even worse than in the second quarter of 1921, when GDP fell by some 12 per…

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