Likely to see 'economic scarring' from pandemic, says BCC

The Head of Economics at the British Chambers of Commerce has said that the UK is likely to see some "economic scarring" from the pandemic. Speaking on Friday, Suren Thiru said this could include "some long-term unemployment issues for certain sectors" or "some issues where the debt level has built up". He said that the coronavirus vaccine "offers real hope of getting the economy moving", but that "a clear plan to support the economy over the next few months" is needed. New statistics show that the UK's economy shrunk faster than at any point in 100 years in 2020, as gross domestic product (GDP) dropped by 9.9%.