Britain isn’t ‘recovering’, whatever the Bank may suggest

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Threadneedle Street’s forecasting has been faulty. But it must still play its central role in protecting jobs and the economy

The UK is performing better than expected. That was the message from the Bank of England’s governor, Andrew Bailey, following its latest review of the economy.

It was a message he almost muttered under his breath, as if knowing that almost anyone listening would yell back: “Oh no it isn’t!”

The number of people visiting high streets and shopping centres, which dropped by 80% in the first weeks of the lockdown, was still down by a third last week

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