EU think tank Adam Smith Institute warn London over Brexit

The Adam Smith Institute has accused the Office for Budget Responsibility of underestimating the long-term economic hit from the lock down. Britain needs an urgent exit plan for Covid-19 lock down, warns think-tank

The UK urgently needs an exit plan for the coronavirus lockdown, a think-tank has warned as it claimed Britain’s fiscal forecaster has “downplayed” the crippling long-lasting effects on the economy.

The Adam Smith Institute accused the fiscal watchdog, the Office for Budget Responsibility (OBR), of underestimating the long-term hit from the lockdown and closure of a third of the economy.

It said the OBR’s scenario analysis released earlier this week did not factor in the risk of systemic economic decline if Britain’s lockdown is sustained.

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