Chancellor Rishi Sunak warns ministers ‘can NOT save every UK job’ as World Trade Organisation says coronavirus will spark the worst global recession of our lifetimesRishi Sunak today addressed the media in Downing Street this afternoon The Chancellor warned the nation will face economic hardship due to Covid-19Earlier the World Trade Organisation warned of the worst…
Chancellor Rishi Sunak warns ministers ‘can NOT save every UK job’ as World Trade Organisation says coronavirus will spark the worst global recession of our lifetimes
- Rishi Sunak today addressed the media in Downing Street this afternoon
- The Chancellor warned the nation will face economic hardship due to Covid-19
- Earlier the World Trade Organisation warned of the worst recession in a lifetime
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Chancellor Rishi Sunak today warned some the job losses caused by the coronavirus crisis will be permanent.
Mr Sunak, addressing the daily Downing Street press conference warned the public that the lockdown was likely to continue further.
He said: ‘I’ve been very clear and very honest that this will take a significant impact on our economy.
Chancellor Rishi Sunak warned he would not be able to save every job threatened by Covid-19
Piccadilly Circus was virtually abandoned this evening as Britons continue the lockdown
‘In spite of what are unprecedented measures in scale and scope, I can’t stand here and say I can save every single job, protect every single business or indeed every single charity.A
‘That’s just simply not possible.’
Earlier, the World Trade Organisation warned the global pandemic is likely to spark the ‘deepest economic recession of our lifetimes’, with international commerce set to fall by up to a third during 2020.
Pressed about the lockdown, Mr Sunak said: ‘There will be a Cobra meeting tomorrow chaired by the First Secretary of State (Dominic Raab), involving the devolved administrations to talk about the approach to the review.
‘We committed there would be a review in and around three weeks, that review will be based on the evidence and data provided by Sage, which will only be available next week.
‘But I think rather than speculate about the future, I think we should focus very seriously on the here and now and the present.’
Mr Sunak said the priority is to stop the spread of the virus and insisted people should follow the advice to stay at home.
On the prospect of different parts of the country emerging from the lockdown at different times, Mr Sunak said: ‘I don’t want to start speculating about the future.’
A 2019 file photo shows the sign outside the World Trade Organisation headquarters in Geneva, Switzerland. The WTO warned today that world trade is ‘expected to fall by between 13 per cent and 23 per cent’ due to disruptions caused by the coronavirus
World Trade Organization (WTO) Director-General Roberto Azevedo delivers a press conference in Geneva on November 27, 2017. Today, Mr Azevedo warned the aftermath of the coronavirus pandemic ‘may well be the deepest economic recession or downturn of our lifetimes’
A container ship is seen at the port of New York and New Jersey, with hundreds of shipping containers stacked on land, in New Jersey, U.S. at the end of last month