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No quick economic bounce back warns Chancellor

Video Credit: PA - Press Association STUDIO - Duration: 00:56s - Published
No quick economic bounce back warns Chancellor

No quick economic bounce back warns Chancellor

The UK economy may not bounce back straightaway from the massive crisis caused by the coronavirus pandemic, the Chancellor has said.

Rishi Sunak said he is not counting on the “V-shaped” recovery many had been hoping for when the country was locked down to prevent the spread of the virus.

“It is not obvious that there will be an immediate bounceback,” Mr Sunak told the House of Lords Economic Affairs Committee, adding that the economy is likely to see a huge downturn.

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Rishi Sunak Rishi Sunak British Conservative politician

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