Sunak: U.K. Economy to Return to Pre-Covid GDP by Mid-2022

The Prime Minister outlined a cautious roadmap to ease restrictions, highlighting the NHS's success in vaccinating over 20 million people. The Office for Budget Responsibility (OBR) forecasts a faster economic recovery, expecting the economy to return to pre-COVID levels by mid-next year. Despite this, the long-term economic impact of COVID-19 remains significant, with the economy projected to be 3% smaller in five years. The OBR predicts economic growth of 4% this year and 7.3% in 2022, with lower unemployment rates due to successful interventions.

What impact has the coronavirus had on the economy in terms of size after five years?

What was the peak unemployment rate expected last year compared to the current forecast?