Centre for Economics and Business Research halves growth forecast and says inflation expected to remain at 7% until 2023
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Macroeconomics: UK economy, IB Economics
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A brief overview of relevant articles for IB and A-Level all relating to the UK economy
Curated by
Graham Watson
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UK consumers could take £43bn hit as coronavirus crisis ravages UK economy
Graham Watson's insight:
This is what the future looks like - and it ain't pretty. The Centre for Economic and Business Research consultancy is forecastign a significant decline in household disposable income and, by definition, consumer spending such that retail sales are expected to fall by 10% for March. And that's only with one week of lockdown. Equally, the distributional effects of this aren't going to be evenly felt with the most vulnerable losing out to the greatest degree. 
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Some of the poorest areas will suffer disproportionate burden for longer if government does not act, warns CEBR
Graham Watson's insight:
The Centre for Economics and Business Research estimates that the past year of successive lockdowns has cost the economy £251 billion.
Not only this, but the effects of the pandemic has also adversely affected the prospects for levelling up, with the regional effects of the pandemic falling more heavily on some than others.
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More on the cost of living crisis, with the Centre for Economics and Business Research suggesting current sanctions on Russia will cut standards of living in the UK by £2,500 a person, exacerbating the current cost of living crisis.