Office Of Budget Responsibility - A Scenario on Government Deficit

14th April 2020

Coronavirus lockdown to deliver large (but hopefully temporary) shock to the economy and public finances.

In addition to its impact on public health, the coronavirus outbreak will substantially raise public sector net borrowing and debt, primarily reflecting economic disruption. The Government's policy response will also have substantial direct budgetary costs, but the measures should help limit the long-term damage to the economy and public finances - the costs of inaction would certainly have been higher. Our Coronavirus reference scenario describes one illustrative economic scenario and its consequences for the public finances.

See the full scenario at https://obr.uk/coronavirus-reference-scenario/