Britain’s fiscal watchdog has slashed its outlook for UK economic growth

The video discusses the initial economic forecast before the COVID-19 pandemic, which was expected to have a modest impact on world trade and UK exports. However, the situation changed drastically, leading to significant economic consequences and policy responses, including actions by the Bank of England and a fiscal package. The forecast had to be adjusted, highlighting the uncertainty and risks involved. The video also covers fiscal rules, debt management, and the challenges posed by the pandemic on public finances, emphasizing the need for careful economic planning.

What challenges does the government face in meeting its new fiscal rules?

What are the expected consequences of the coronavirus on public finances?