Tag: cost

UK borrowing at record high as virus cost soars in April

Image copyright Getty Images Image caption The furlough scheme means the government is paying the wages of more than 6.3 million people The government borrowed £62.1bn in April, the highest monthly figure on record, according to official figures. It underlines the cost of coping with the coronavirus pandemic through jobs schemes and loans, and is double the forecast of many… Read more →

Coronavirus ‘could cost global economy $8.8tn’ says ADB

Image copyright Getty Images The coronavirus pandemic could cost the global economy between $5.8tn and $8.8tn (£4.7tn-£7.1tn), according to Asian Development Bank (ADB). That’s more than double last month’s prediction and equates to 6.4%-9.7% of the world’s economic output. It comes as measures to slow the spread of Covid-19 continue to paralyse economic activity around the world. Globally authorities have… Read more →

Coronavirus: How much will it cost the UK?

Image copyright Matthew Horwood Coronavirus has brought large parts of the economy to a standstill, and the government has had to spend billions to support workers, businesses and the NHS. So where is all the money going to come from? How much will coronavirus cost the UK? It’s still very early in the crisis, so it’s impossible to tell how… Read more →