A Second Lockdown will Cause Economic Carnage

If a second lockdown is imposed on the UK it will cause economic carnage says KPMG the accounting firm KPMG.

In their recent revised outlook for the U.K. economy the giant global accounting company

said any added restrictions would wipe out the growth seen in recent months, reducing the

overall economy by a further 12%.

However, the firm also says that it expects economic growth to resume in the new year, if another lockdown isn’t enforced. Although, it also says that even a three month delay in any potential vaccine roll out will reduce the nations growth in the new year by almost 2%.

Yael Selfin, KPMG’s chief economist said: “While it feels like the worst of the Covid-induced

economic crisis is behind us, there are still many challenges.” Going on to say “ the timing

and speed of the economic recovery will be impacted both by vaccine developments and

Brexit outcomes.”

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