Britain implemented its Covid-19 lockdown ― which is only just starting to be slowly eased ― on March 23. — Reuters pic
“And with the restrictions in place until mid-May and then only lifted very slightly, April will be far worse,” Gregory added. The Bank of England had already warned last week that the economic paralysis could lead to Britain's worst recession in centuries. “Although very few industries saw growth, there were some that did, including IT support and the manufacture of pharmaceuticals, soaps and cleaning products.
Notably, the government stepped in to back up employee wages in a so-called “furlough” jobs retention plan, while it also gave tax holidays to businesses and boosted welfare payments.
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