The UK is heading for a deeper recession than the 2008-09 financial crisis.
Capital Economics has warned that the economy may shrink by an unprecedented 15% in the three months to June. It said that 700,000 jobs will be lost as unemployment jumps from 3.9% to 6%.
It added that the situation would have been far worse without the measures being taken by the government, including the coronavirus jobs retention scheme.
Government measures to protect workers and businesses hit by the coronavirus pandemic will save almost 900,000 jobs.
