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.

Read More here

 

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here