Government concerned that tens of thousands of Britons may die prematurely from the worst recession in history - more than will die from the virus
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Forecasts suggest economy may slump by more than 14 percent in the next three months sparking concerns that tens of thousands of Britons may die prematurely from the worst recession in history. Some believe current forecasts understate the scale of economic devastation.
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Impact of rapidly rising unemployment and deteriorating mental health from the lockdown may ultimately prove more lethal to the health of the country than the coronavirus.
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Matt Hancock, the Health Secretary said the health impact from the economic crisis will be “at the heart of our judgments as we make those decisions in the future” but added: “Right now what is clear is that it is too early to make those judgments.”
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The number of people claiming universal credit has already soared by more than 1m in less than three weeks and traditional economic analysis suggests recessions are linked to high levels of early deaths as a result of poverty.
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If the lockdown is kept relatively short, it is hoped the economy will quickly rebound.
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An average prediction across seven latest economic forecasts says gross domestic product will fall by 14 per cent in the second quarter of this year,
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Last night senior Conservative MPs warned of the “greater human consequences” of an economic downturn which could result in “high numbers of deaths” in the long run.
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A source close to the discussions pointed out the argument is not about saving lives from coronavirus and saving the economy, it is about “lives versus other lives”.