"I have never made any pretence of my opinion that the post coronavirus recession in the UK is going to be ghastly. However, events of the last few days have forced me to reconsider that opinion. I now think that calamitous may be a better description. I want to keep this blog to manageable scale so let me set out the short form of my reasoning.

The UK was already forecast to run a deficit of £370 billion this year. The deficit for the following three years was forecast to exceed £100 billion each year by the Office for Budget Responsibility." How has the British Government created such a mess?

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