What now for Britain's economy – a new direction, or business as usual? | Larry Elliott


The coronavirus crisis provides an opportunity to stop two centuries of decline. But that’s going to take a lot of courage

The day the World Health Organization declared Covid-19 a global pandemic was also the occasion of Rishi Sunak’s budget. Announcing an extra £12bn to fight the virus, Britain’s newly appointed chancellor said the measures were “temporary, timely and targeted”.

That was less than six months ago, but it now feels like a long time. Within days of the budget, Sunak’s three-Ts approach became redundant. The economy was in a deep freeze, and the country had gone into full lockdown.

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