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Budget 2021: what’s really going on in the UK economy?
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Britain’s economic recovery from Covid is at growing risk from severe shortages of workers and materials, as well as mounting living costs for households, as Rishi Sunak prepares his budget and spending review.
Here are five key charts that will underpin the chancellor’s statement on Wednesday afternoon.
Britain’s economy has recovered close to pre-pandemic levels after a swift rebound from the worst recession in 300 years, helped by vaccines and the easing of Covid restrictions. According to the latest official figures, GDP is just 0.8% below its February 2020 level. However, the severe shortages of workers and materials risk weighing on growth, putting a complete recovery by Christmas at risk.
Attention will focus on today’s Office for
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