The UK's economy shrank by 20.4% in April - the largest monthly contraction on record - as the country spent its first full month in lockdown. The contraction is three times greater than the decline seen during the whole of the 2008 to 2009 economic downturn. Analysts said April was likely to be the worst month, as the government began easing the lockdown in May. The ONS published figures for the three months from February to April, which showed a decline of 10.4% compared with the previous three-month period.
British Airways, Ryanair and EasyJet have filed a formal legal challenge to the government's quarantine policy. The airlines say the policy will have "a devastating effect on British tourism and the wider economy" and destroy thousands of jobs.
More than a third of employees in some towns in Britain have been furloughed due to coronavirus, according to figures that also reveal the government’s job retention scheme has now cost almost £20bn. Crawley in Sussex, which sits next to Gatwick airport, had 33.7% of employees furloughed last month while in contrast Cambridge had just under half that proportion at 17.4%.
#UKEconomy #BritishAirways #Kalkine
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