Sunak says despite BoE forecasts improvement, hardship is likely
LONDON (UK) – British finance minister Rishi Sunak said on Friday the new economic forecasts of the Bank of England showed an improvement from the old ones. However, he also admitted that it also indicates hardship ahead.
The BoE said the economy would not see any signs of recovery until the end of 2021.
Sunak told, “It’s an improvement from when they last did their forecast.”
“But… they are right to say that hardship lies ahead.”
Sunak also said he was hopeful that a lot of the loans backed by the government and given to companies during the pandemic will be repaid. A trade deal with the European Union was still possible in September, he said.
He told Sky News, “On Brexit, as you will have heard recent reports, we remain confident that it’s possible to get a deal in September.”
(Photos syndicated via Reuters)
This story has been edited by BH staff and is published from a syndicated field.