UK Economy will bounce back quickly says Chancellor

By Simon Gentry, Managing Partner

Rishi Sunak MP, the Chancellor of the Exchequer, led today’s Government press conference. 

His comments focussed on the report today by the Office of Budget Responsibility about the potential impact of the crisis on the British economy. He noted that the report was not a prediction, but was a scenario, setting out what might be happening in the economy.  

He pledged to be honest and said that these are very hard times but that the Government’s plan to support the economy was the right plan and that it would help the economy bounce back quickly.  He noted that many billions had been pledged to the NHS in order to protect the public which would allow the economy to recover quickly. 

He said now was not the time for ideology or orthodoxy.  These are unprecedented times and the Government’s plan is to protect as much productivity capacity as possible. He added that this was a national struggle, one that we are all in together.