Rishi Sunak has braced Britain for a “significant recession” as the coronavirus pandemic hits the economy hard.
After the coronavirus pandemic struck, national economic growth slumped by a massive 5.8 per cent in just March alone, it was revealed today.
The collapse is the largest ever monthly slump on record.
The Treasury has predicted that the pandemic will cost the exchequer £300 billion this year.
It could require income-tax rises, a two-year public pay freeze and an end to the triple lock on state pensions.
The Chancellor warned it is also only the tip of the iceberg, as the figure takes in just one week of full lockdown, which started on March 23.
Small business expert and entrepreneur Matt Haycox was one of the many business owners to lose it all in the financial crash of 2008.
Here he gives his outlook on what the future may hold for small businesses this time round.
As well as answering questions including…
– How can businesses prepare for the end of lockdown?
– How businesses can make their workplaces ‘Covid-secure’
– What Boris Johnson’s ‘roadmap’ to recovery means for SMEs
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