Brace for the Covid bill: Rishi Sunak warns the UK economy 'will get worse before it gets better' as he says lockdown will have 'significant' cost and hints at looming tax rises - with footfall in shops already down 27 per cent last week
Rishi Sunak today warned Britons to brace for the economy to get 'worse before it gets better' as he said the new coronavirus lockdown will have a 'significant' cost. Despite saying vaccines offered 'hope' and there were signs of 'resilience' in UK plc, the Chancellor delivered a grim message about the scale of the devastation from the pandemic. In a statement to MPs, he insisted the government was right to have taken measures including offering another £4.6million in grants and discretionary support for stricken businesses. But Mr Sunak put the country on notice of looming tax rises and spending cuts, as he said he is determined to take action to 'repair' the public finances when the immediate crisis is past. The gloomy assessment came as figures showed footfall at shops plunged more than a quarter last week as the brutal restrictions came into force. Total shopper numbers tumbled by 27.1 per cent in the seven days to January 9 compared to