Govt must be ready to expand support in face of devastating OBR estimates


Responding to new estimates from the Office of Budget Responsibility suggesting the coronavirus crisis could lead to unemployment rates of 10%, with a potential economic contraction of 35% in the second quarter of 2020, Acting Leader of the Liberal Democrats Ed Davey said:

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"This would represent an appalling economic shock on a level unseen for the best part of a century.

“In the face of this devastating economic scenario, the Government must show that they are ready to expand support for those facing financial hardship - both now and in the future. We need to see plans for action now.

"Working with foreign governments to streamline support for the global economy could not be more important. Liberal Democrats continue to call for the Government to postpone Brexit negotiations to deal with the immediate crisis at hand. It would be beyond irresponsible to add pressure to an economy in crisis by pushing on with Brexit negotiations."


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