The UK economy suffered the biggest downturn in more than 300 years in 2020 due to the corona virus epidemic. Last year, the UK economy recorded a 9.9 per cent decline. Shops and restaurants in Britain were closed due to the epidemic. In addition, the epidemic has devastated tourism and manufacturing.

The recession in 2020 is more than double the 2009 recession during the global financial crisis, the Office for National Statistics said on Friday. The crash is the largest since 1709, when the winter, known as the Great Frost, took place. Britain was then a predominantly agrarian economy.

Britain’s Finance Minister Rishi Sunak said in a statement that the economy has suffered a severe setback as a result of the epidemic. While there are some positive signs of the economy’s resilience during the winter, we know that the current lockdown is affecting many people and businesses.

Sunak said he would announce new plans for job security in the annual budget speech. He will speak on the budget on March 3 in the House of Commons. The Covid-19 has had a greater impact on the UK economy than other industrial democracies. By 2020, France’s Gross Domestic Product (GDP) will fall by 8.3 percent, Germany’s economy by 5 percent and the US GDP by 3.5 percent.