UK economy cannot handle double whammy of COVID-19 and Brexit

The Chancellor, Rishi Sunak MP, today gave his first Budget speech to the House of Commons. He set out the government's plans for managing the UK's finances.

Responding, Best for Britain CEO Naomi Smith said:

"The Chancellor has recognised the threat posed by Coronavirus but the truth is that the virus is only one of the major challenges faced by our country.

"The twin challenges of Brexit and coronavirus are a double whammy that will restrict our economy in both the short and medium-term. Our economy is resilient enough to handle one of these shocks, but it cannot cope with two simultaneously. And frankly, it doesn't need to.

"The Chancellor has already had to change some of his budget plans, so the Government could also think afresh about whether it would be sensible to stick so rigidly to its arbitrary deadline for European talks in light of the unprecedented health crisis our country currently faces."