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Sunak warns of biggest economic downturn in 300 years in Spending Review

Chancellor predicts the economy will rebound by 5.5% in 2021 as vaccines enable looser restrictions

Sunak warns of biggest economic downturn in 300 years in Spending Review
Photo: Getty Images

The UK economy will contract by 11.3%, the largest fall in output for more than 300 years, Chancellor of the Exchequer Rishi Sunak told the House of Commons as he announced the government's spending review.

Sunak told MPs that the economy will start recovering as restrictions are eased, predicting growth of 5.5% in 2021. He cited the Office for Budget Responsibility.

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