U.K. to Suffer Deepest Recession in 300 Years, Sunak Says

The transcript discusses the UK's economic decline by 11.3%, the largest in over 300 years, and the expected recovery with growth rates of 5.5% in 2021 and 6.6% in 2022. Despite growth, economic output won't return to pre-crisis levels until late 2022, with long-term scarring reducing the economy by 3% by 2025. The pandemic has led to increased borrowing, with £394 billion forecasted for this year, the highest in peacetime history, decreasing in subsequent years but remaining significant.

What is the expected growth rate of the economy next year?

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When is the economic output expected to return to pre-crisis levels?

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What is the projected size of the economy in 2025 compared to the March budget?

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What is the total amount the UK is forecasted to borrow this year?

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What percentage of GDP does the borrowing this year represent?

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