Press release
8 July 2020
Ian Stewart, chief economist at Deloitte, comments on the Chancellor’s statement:
“This is an impressive opening salvo in a campaign to secure the recovery. The aim is to sustain and build economic capacity, not to freeze it. Today’s measures will counter some of the biggest roadblocks to growth by supporting jobs and fuelling the hospitality sector and housing market.
“The recovery is underway, but much of the damage to jobs and businesses is likely still to come. The fiscal activism that helped the economy through the lockdown is being harnessed to the task of recovery.
“More will be needed of government. But today’s package shows that the Chancellor is acting in scale and with imagination to bolster the recovery.”
@DeloitteUK for live comment;
@DanielFLyons1 for Daniel Lyons, Head of Tax Policy; and
@IanStewartEcon for Ian Stewart, chief economist
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